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Japan government fund, bank mull bid with Broadcom for Toshiba chip unit -media

Reuters  |  TOKYO 

TOKYO (Reuters) - A Japanese government-backed fund and policy bank are considering a joint bid with Broadcom Ltd for Toshiba Corp's semiconductor business, a move that would vault the U.S. chipmaker into the lead to buy the prized unit, the Asahi newspaper said on Wednesday.A bid by Innovation Network Corp of Japan and the Development Bank of Japan with Broadcom would appear to be aimed at preventing Toshiba's chip technology from going to rivals in China or South Korea, the Asahi said, citing an unidentified source.INCJ Chairman Toshiyuki Shiga said on Tuesday the fund was looking at the ...

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First Published: Wed, April 19 2017. 10:52 IST