Toshiba shares up after sources say it aims to name chip ops buyer on June 15

Reuters News
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Posted: Jun 07, 2017 8:26 PM

TOKYO (Reuters) - Shares of Toshiba Corp jumped on Thursday after people familiar with the matter said it aims to name a winner for its prized semiconductor business next week.

Toshiba <6502.T> was last up 3 percent at 278 yen ($2.53) after earlier rising as high as 279.1 yen, its highest since January. The gains outpaced those of the broader Nikkei stock index <.N225>, which was up 0.1 percent.

Sources told Reuters the choice has narrowed to one bid from U.S. chipmaker Broadcom Ltd <AVGO.O> and U.S. tech fund Silver Lake and another from Toshiba chip partner Western Digital Corp <WDC.O> and Japanese government-related investors.

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(Reporting by Tokyo markets team; Editing by Michael Perry)