Japan government fund and bank mull over bid with Broadcom for Toshiba unit

Tokyo

A JAPANESE government-backed fund and policy bank are considering a joint bid with Broadcom Ltd for Toshiba Corp's semiconductor business, a move that would vault the US chipmaker into the lead to buy the prized unit, the Asahi newspaper said on Wednesday.

A bid by Innovation Network Corp of Japan (INCJ) and the Development Bank of Japan (DBJ) with Broadcom would appear to be aimed at preventing Toshiba's chip technology from going to rivals in China or South Korea, the Asahi said, citing an unidentified source.