>> Struggling Toshiba Corporation has announced it will sell its most prized possession, retaining a minority stake. But the spin-off of its famous computer chip division to a group of companies, including the likes of Apple and Dell, has been hit with immediate confusion and a cancelled news conference.>>
>> I'm very sorry to announce that we cannot avoid canceling the news conference. Because we could not get approval from all the related parties.>> It stoked fears that the six buyers, which are led by Bain Capital, might have too many competing interests to actually work together for the $18 billion sale.
For example, sources have told Reuters that last week Apple demanded new terms regarding the supply of the chips, which are used as memory storage in computers. Complicating matters is Western Digital, which is Toshiba's venture partner for the hardware. It was rejected from the group and is now trying to block any deal that doesn't have its consent.
Toshiba needs the cash, the company is doing so poorly it's at risk of being removed from Japanese stock listings all together.