Toshiba receives bids as high as US$3.6bil for chip business stake

TOKYO: Toshiba Corp has received bids ranging from 200 billion yen to as much as 400 billion yen (US$1.8bil-US$3.6bil) for a 19.9% stake in its flash memory business, a person directly involved in the deal told Reuters.

The Japanese conglomerate is seeking to raise around 300 billion yen from the sale, said the person, who was not authorised to speak with media and so declined to be identified.