Apple is in talks to invest about US$3bil in Toshiba Corp’s memory chips business as part of a consortium led by Bain Capital, according to people familiar with the matter. The last thing Cook wants is to end up dependent on his archrival in smartphones, so he wants Toshiba’s chips unit to stay healthy. “There’s a lot of people that want Toshiba Memory to be an independent company,” he said in an interview on Bloomberg Television. But as Western Digital and chief executive officer Steve Milligan became increasingly vocal in its opposition, INCJ and DBJ decided to pull back. But Yasuo Naruke, head of Toshiba’s chips business, resisted the proposal, the people said.— Bloomberg

Source: The Star September 15, 2017 22:07 UTC