TOKYO (Reuters) - A Hong Kong-based activist investor in Toshiba Corp (6502.T) has told the embattled conglomerate that the $18 billion sale of its chip unit to a Bain Capital-led group is no longer necessary after its recent capital injection, according to a letter seen by Reuters.
FILE PHOTO: A reporter raises his hand for a question during a news conference at the Toshiba Corp company headquarters in Tokyo, Japan June 23, 2017. REUTERS/Issei Kato/File Photo
Argyle Street Management Ltd, a hedge fund with $1.2 billion under management, sent the letter to Toshiba’s board late on Monday, Chief Investment Officer Kin Chan told Reuters. The fund declined to say how many Toshiba shares it owns.