Toshiba may delay auction

Toshiba, which had been planning the second round of its auction for next week (May 19th)  may now be looking at a postponement.

This could be because of delays attendant on Western Digital’s legal claims that it has sole negotiating rights.

Or it could be because one of the five bidders – the KKR/INCJ collaboration – is still trying to raise the money.

The extension could be until the end of the month, but it could be even later.

The other three bidders are Hon Hai, Broadcom and Hynix.

Meanwhile The Japan Times reports that Toshiba has given up looking for a new auditor for the time being and has asked PwC, the auditor it sacked for not signing off last quarter’s accounts, to carry on until the end of the financial year.


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