China gives the nod to Bain consortium to buy Toshiba's chip unit

China regulators have approved Toshiba to go ahead and sell its chip business to Bain consortium for $18B.

Bain consortium is led by US equity firm Bain Capital but includes Apple, Dell, Seagate, Kingston and Korean chip maker SK Hynix.

There was fear that China would intentionally stall the deal because of ongoing trade-related tensions with the US.

This approval in the Toshiba Bain consortium deal also akes analysts hopeful that China regulators will give the green light on Qualcomm's acquisition of NXP.

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