Foxconn says Apple, Amazon to join its bid for Toshiba chip business: Nikkei

FILE PHOTO: The logo of Toshiba is seen as a shareholder arrives at Toshiba's extraordinary shareholders meeting in Chiba, Japan  March 30, 2017.   REUTERS/Toru Hanai/File Photo

US-TOSHIBA-ACCOUNTING:Foxconn says Apple, Amazon to join its bid for Toshiba chip business: Nikkei

TOKYO (Reuters) - Apple Inc and Amazon.com Inc will join Foxconn's <2317.TW> bid for Toshiba Corp's <6502.T> semiconductor business, the Nikkei business daily quoted Foxconn Chairman Terry Gou as saying on Monday.

The two U.S. technology giants plan to "chip in funds", Gou said, according the interview with the newspaper. It was not immediately clear if this would take the form of a direct investment in the semiconductor unit or would be financing for the deal.

Taiwan's Foxconn, formally known as Hon Hai Precision Industry Co Ltd, has also partnered with its Japanese unit Sharp Corp <6753.T> in its bid.

Representatives for Apple and Amazon were not immediately available for comment.

Toshiba is depending on the sale of the unit, the world's second-largest NAND chip maker, to cover billions of dollars in cost overruns at its now bankrupt U.S. nuclear unit Westinghouse.

Foxconn is not seen as a frontrunner in the sale of the unit, which Toshiba has valued at at least $18 billion, due to its deep ties with China. The Japanese government has said it will block any deal that would risk the transfer of key chip technology out of the country.

(Reporting by Makiko Yamazaki in Tokyo and JR Wu in Taipei; Editing by Edwina Gibbs)

Related News

Miniature lab begins science experiments in outer space

Mar 16, 2017

US-SPACE-SATELLITE:Miniature lab begins science experiments in outer space

British Airways says IT systems running again after weekend outage

May 30, 2017

US-BRITAIN-AIRPORTS-SYSTEMS:British Airways says IT systems running again after weekend outage

U.S. Army Corps of Engineers grants easement for Dakota Access pipeline

Feb 9, 2017

US-NORTH-DAKOTA-PIPELIN-EASEMENT:U.S. Army Corps of Engineers grants easement for Dakota Access pipeline

Peaple also read these

Miniature lab begins science experiments in outer space

Mar 16, 2017

US-SPACE-SATELLITE:Miniature lab begins science experiments in outer space

British Airways says IT systems running again after weekend outage

May 30, 2017

US-BRITAIN-AIRPORTS-SYSTEMS:British Airways says IT systems running again after weekend outage

U.S. Army Corps of Engineers grants easement for Dakota Access pipeline

Feb 9, 2017

US-NORTH-DAKOTA-PIPELIN-EASEMENT:U.S. Army Corps of Engineers grants easement for Dakota Access pipeline

About Us

Get the latest news and have a look at the innovations and technologies that are shaping the future and changing the world here in Futurally.

Contact us: sales@futurally.com