February 7, 2017 / 7:35 AM / 8 months ago

SK Hynix says it bid for a stake in Toshiba's memory business

SK Hynix Inc's DRAM modules are seen in this picture illustration taken at the company's main office building in Seoul October 24, 2012. REUTERS/Kim Hong-Ji/File Photo

SEOUL (Reuters) - South Korean chipmaker SK Hynix Inc said on Tuesday it submitted a non-binding bid last week for a stake in Toshiba Corp’s memory chip business, as the firm seeks to boost its NAND flash chip competitiveness.

SK Hynix, in a regulatory filing, said it has not decided on whether to submit a final bid and did not offer details including how big a stake it seeks. The Japanese firm, the world’s No. 2 NAND chipmaker, seeks to sell a minority stake of less than 20 percent in the memory business.

Reporting by Se Young Lee

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