By Kim Yoo-chul
In the latest standoff over attempts to purchase Toshiba's NAND flash memory chip business pursued by a Korea-Japan-U.S. consortium, China's regulators are seeking more protections for Chinese companies before approving the proposed purchase of the Toshiba unit.
That may jeopardize the consortium's mega bid to close the deal, sources familiar with the issue told The Korea Times by telephone, Monday.
"They were saying the consortium's proposed purchase of Toshiba's NAND chip business will be affected by U.S.-China trade friction. The reality is Chinese regulators want the consortium to provide more remedies to protect Chinese companies before approving the plan," one senior hedge fund manager at an investment bank said.
Out of the eight countries that the consortium requested for approval of the deal, China is the only one that has been delaying the approval of the proposed takeover plan. The approval by Chinese regulators has been delayed to May 1 after the consortium's first attempt to close the deal failed. read the rest here >>>>>
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