Toshiba Says Not in Talks to With Any Company Over PC Unit Sale

Toshiba house same on weekday it had not entered into talks with any company to sell its pc business, denying media reports that it had been in negotiations to sell the unit to Taiwan’s Asustek pc.

China’s Lenovo cluster Ltd has additionally expressed interest within the computer unit, the Nikkei business daily reportable.

Cash-strapped Toshiba has antecedently same it’s trying to sell the computer business, alittle a part of the commercial conglomerate, because it races to bolster its record by the tip of March to avoid a doable delisting.

Representatives for Asustek and Lenovo couldn’t directly be reached for comment.

The computer business accounted for simply three.5 p.c of Toshiba’s web revenue in April-September of eighty four.1 billion yen ($747 million).

Hit by liabilities arising from its currently bankrupt United States nuclear unit, Toshiba has been plunged into money crisis and in agreement in Sep to sell its prized chip unit, Toshiba Memory, to a gaggle light-emitting diode by Bain Capital for $18 billion.

But a extremely competitive and contentious auction method light-emitting diode to delays when making a decision on the customer and has meant that Toshiba might not acquire the mandatory antimonopoly clearance by the tip of the twelvemonth in March.

Without funds from the sale, it’s probably to finish the year in negative web value for a second year in an exceedingly row, putt pressure on the Japanese capital exchange to delist it.

To avoid that risk, Toshiba is staring at raising concerning JPY 600 billion ($5.3 billion) by providing new shares in an exceedingly third-party allotment – and hopes to end the capital injection by the tip of the year to permit for stockholder approval, a supply briefed on the matter same this month.

Separately, the Yomiuri newspaper reportable that Toshiba was considering a capital increase for Toshiba Memory, with the investment coming back from a member of the Bain-led cluster.

Responding to the Yomiuri report, Toshiba same it had been not considering acceptive any separate investment in its silicon chip unit by a member of the Bain Capital-led pool.

Toshiba recurrent on weekday its stance that it had been about to shut the chip unit deal by the tip of March.

It same earlier on that it’d sell its tv unit to China’s Hisense cluster for JPY twelve.9 billion ($115 million).