In a prelude to an easing of trade tensions between Washington and Beijing, Chinese officials ended a monthslong delay by approving Toshiba’s sale of a majority stake in its lucrative microchip unit to an American-led group. In a statement on Thursday, Toshiba said it had received “all required antitrust approvals” for the deal with a consortium led by the United States investment firm Bain Capital. Bain confirmed in its own statement that Chinese authorities had approved the deal. Chinese officials could not be reached for comment late Thursday, and the country’s official media and websites were silent on the matter. The reasons for the approval after the lengthy delay were not immediately clear.

Source: New York Times May 17, 2018 13:16 UTC