Reuters - Video

Edition: US | UK | IN | CN | JP

video Finance Videos

Wall Street gets Fed reality check
Wall Street gets Fed reality check - 01:51
Reuters Today: Spanish yields seen rising at auction
Reuters Today: Spanish yields seen rising at auction - 06:21
Surprise services boost points to UK recovery
Surprise services boost points to UK recovery - 02:54
Breakingviews: Do as I say, not as I do – German wages
Breakingviews: Do as I say, not as I do – German wages - 05:04
Market Pulse: Spain under fire as investors shun bond sale
Market Pulse: Spain under fire as investors shun bond sale - 03:28
Myanmar's Kyat begins managed float
Myanmar's Kyat begins managed float - 01:59
ASEAN: territorial code of conduct draft by year-end
ASEAN: territorial code of conduct draft by year-end - 01:48
U.S. Morning Call: Stock futures down, JPMorgan to be fined
U.S. Morning Call: Stock futures down, JPMorgan to be fined - 02:08
EMEA Day Ahead:: Thursday
EMEA Day Ahead:: Thursday - 03:13
3XSQ: Customer funds in question; royal return
3XSQ: Customer funds in question; royal return - 05:44
Still cashing in? Hirst retrospective
Still cashing in? Hirst retrospective - 02:32
World's biggest car delivery center
World's biggest car delivery center - 02:41

Toshiba weighs up chip business offers

Thursday, August 31, 2017 - 01:14

Toshiba Corp has failed to seal a deal to sell its prized chip business by a self-imposed deadline of Thursday, raising doubts about whether it can plug a balance sheet hole in time to avoid a delisting and keep the chips unit competitive. Laura Frykberg reports.

▲ Hide Transcript

▶ View Transcript

Toshiba has no shortage of suitors... For it's memory chip business.. But the Japanese conglomerate is still playing hard to get.. Discussing each proposal, with each of the three contenders... One of which - has come from a consortium led by Western Digital. For 17 billion dollars... A sticking point for that bid - the role Western Digital would have in Toshiba's future... The two currently run a joint venture. But time is running out... Toshiba needs to cover billions of dollars worth of losses... From its failed U.S. nuclear arm, Westinghouse. (SOUNDBITE) (English) INVESTMENT DIRECTOR AT FIDELITY INTERNATIONAL TOM STEVENSON SAYING: "It really needs to fill a hole in its balance sheet, if it's not going to announce negative net worth when it announces its full year figures next March, if it were to do that then there's a good chance that it would be delisted from the Tokyo Stock Exchange." Complicating this courtship... Bain Capital - leading one of the three offers, has resubmitted its tender... Bringing in tech heavyweight, Apple. That has the potential to be a game changer. Toshiba is looking to try and rival tech industry leader, Samsung.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Close

Toshiba weighs up chip business offers

Thursday, August 31, 2017 - 01:14