In a move to discourage its U.S. partner from trying to buy its recently spun-off chip unit, Toshiba has taken back a majority stake in a joint venture with the partner, Western Digital, after having transferred the stake to the spun-off unit, sources said.
Toshiba retook a 50.1 percent stake in the joint venture that it had transferred to Toshiba Memory Corp. after it was spun off from the parent company. Western Digital owns the remainder.
Last month, the U.S. data storage company took legal action against Toshiba's plan to sell a majority stake in Toshiba Memory through bidding, asking the International Court of Arbitration of the Paris-based International Chamber of Commerce to block the sale. The U.S. firm has demanded exclusive negotiation rights to the purchase of a stake in Toshiba Memory.