SK Hynix in talks with Japanese investors for joint Toshiba chip bid: Korea Economic Daily

Reuters News
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Posted: Mar 28, 2017 8:15 PM

SEOUL (Reuters) - South Korean chipmaker SK Hynix Inc <000660.KS> is in talks with Japanese financial investors about forming a consortium and jointly bidding for Toshiba's memory chip business, Korea Economic Daily reported on Wednesday citing unnamed sources.

The paper said SK Hynix, the world's No. 2 memory chip maker behind Samsung Electronics Co Ltd <005930.KS>, plans to submit a preliminary bid for the Toshiba chip business on Wednesday. The Japanese firm put up the business for sale in response to a $6.3 billion writedown expected from exposure to its U.S. nuclear unit Westinghouse.

An SK Hynix spokesman declined to comment on the report.

(Reporting by Se Young Lee; Editing by Stephen Coates)