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SK Hynix joins bidding for Toshiba’s memory chip business

( March 29, 2017, 06:10 GMT | Insight) -- South Korea's SK Hynix has decided to join the preliminary bidding to acquire a stake in Toshiba Corp's memory chip business, with a deal expected to cost 20 trillion won ($18 billion), Chosun Biz reports. SK has established a consortium with Japanese financial investors to share the financial burden and also to address the Japanese government's concerns over possible technology leaks. The Japanese firm had initially planned to sell a 19.9 percent stake in the business for 3 trillion won, but decided to sell the entire business after incurring losses from its nuclear power business last year. More than 10 bidders are in the running for the business, including Toshiba's US partner Western Digital, Micron Technology and TSMC. Preferred bidders will be selected in June....

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