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

Posted by: Admin | Posted on: June 8th, 2017 | 0 Comments

TOKYO 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.

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

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