Toshiba NAND Chip Unit Sale to Bain not Necessary

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Exclusive: Hong Kong fund tells Toshiba that chip unit sale to Bain group not necessary
A Hong Kong-based activist investor in Toshiba Corp. has told the embattled conglomerate that the $18 billion sale of its chip unit to a Bain Capital-led group is no longer necessary after its recent capital injection, according to a letter seen by Reuters.
Argyle Street Management Limited, a hedge fund with $1.2 billion under management, sent the letter to Toshiba’s board on Monday, chief investment officer Kin Chan told Reuters. The fund declined to say how many Toshiba shares it owns.