Toshiba enters exclusive chip sales talks with US-SKorea-Japan group

Toshiba enters exclusive chip sales talks with US-SKorea-Japan groupToshiba said Wednesday it will hold exclusive talks with a consortium of US, South Korean and state-backed Japanese investors to sell its prized memory chip business, as the loss-hit conglomerate scrambles to raise cash. The company needs money after taking massive losses in its US nuclear operations that have put the survival of a pillar of corporate Japan in doubt. Toshiba’s board Wednesday decided to select the consortium as a “preferred bidder”, it said in a statement, suggesting the deal is all but imminent.



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