April 5, 2012 / 1:26 AM / 5 years ago

Toshiba out of race to turn around Elpida -papers

The logo of Toshiba Corp is seen at the company's headquarters in Tokyo January 29, 2010.Toru Hanai/Files

TOKYO (Reuters) - Toshiba Corp (6502.T) is out of the running among companies bidding to support Elpida Memory's turnaround, likely leaving three foreign companies including SK hynix (000660.KS) and Micron Technology (MU.O) in the race, media reported on Thursday.

Japan's Asahi and Mainichi newspapers said Toshiba, seen as the preferred partner for the bankrupt memory chipmaker by the government, was no longer bidding. The newspapers did not give a reason, or say where they got their information.

Reporting by Nobuhiro Kubo; Editing by Edwina Gibbs

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