Mofcom could derail Toshiba sale
- Author:Ella Cai
- Release on:2017-12-18
The latest twist in the Toshiba saga is that China could derail the deal.
China’s Ministry of Commerce (Mofcom) is reported by Bloomberg to have raised concern about Hynix’s presence in the winning consortium.
With only four significant NAND producers in the world, the prospect of Hynix taking control of Toshiba will affect markets.
Hynix’s participation in the winning bid consortium as a provider of finance via convertible bonds gives it a future opportunity to swap debt for equity and take a 15% stake in Toshiba.
China’s Ministry of Commerce (Mofcom) is reported by Bloomberg to have raised concern about Hynix’s presence in the winning consortium.
With only four significant NAND producers in the world, the prospect of Hynix taking control of Toshiba will affect markets.
Hynix’s participation in the winning bid consortium as a provider of finance via convertible bonds gives it a future opportunity to swap debt for equity and take a 15% stake in Toshiba.
