Toshiba sees chip unit sale finalized by June at the latest

The sale of Toshiba's flash memory business is still an ongoing item. As you may remember, the Japanese conglomerate saw itself forced to part with one of its crown jewels due to losses and irregularities incurred by other business units.

So when will the sale be finalized? A new Reuters report signals Toshiba expects the deal will close by June at the latest. Toshiba is still awaiting antitrust approval from Chinese regulators.

Activist shareholders are opposing the deal, arguing that an injection of fresh capital made the sale unncessary:

Toshiba is in less of a rush to finalise the deal since it received injections of capital late last year from overseas investors. If it does not complete the deal by March, it has the option of walking away, sources have said.

Some activist shareholders have opposed the sale, arguing that the fresh capital made it unnecessary.