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Toshiba says Western Digital overstates its rights over chip business

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Toshiba says Western Digital overstates its rights over chip business

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TOKYO (Reuters) – Toshiba Corp said business partner Western Digital Corp overstated its rights over a chip business unit that the Japanese conglomerate was trying to sell, showing the two sides remained at loggerheads over the $18 billion (13.64 billion pounds) auction. Toshiba said on Wednesday that it was stepping up talks to sell its semiconductor unit to a group led by Bain Capital. But it also said it would continue weighing a rival offer by Western Digital, which is also a joint venture partner. “Toshiba regrets that Western Digital persistently overstates its limited consent rights in public statements,” it said in a statement, referring to the U.S. company’s claim that its consent is required for a sale as it has invested in Toshiba’s chip plant.

(Reporting by Ritsuko Ando; Editing by Himani Sarkar)
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