HomeStock MarketSK Hynix refutes claims of approaching SoftBank for Kioxia merger, clarifies position.

SK Hynix refutes claims of approaching SoftBank for Kioxia merger, clarifies position.

SK Hynix Denies Reports of Approaching SoftBank for Kioxia Merger

SK Hynix Denies Partnership with SoftBank for Kioxia Merger

SK Hynix Inc, the second-largest memory chip maker in the world, has refuted claims of approaching SoftBank Group from Japan for a potential partnership regarding a merger with memory chipmaker Kioxia Holdings Corp. The company stated that it has not contacted SoftBank for collaboration concerning the Kioxia-Western Digital deal.

SK Hynix Reluctant to Support Kioxia Merger with Western Digital

In a recent report, it was revealed that SK Hynix is hesitant to endorse a merger between Western Digital’s memory chip operations and Kioxia, a company in which SK Hynix holds a stake. The report further suggested that SK Hynix had approached SoftBank as an alternative partnership if the merger falls through.

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Denial of Collaboration with SoftBank

SK Hynix, however, denied these claims made by Nikkei and clarified that the company did not approach SoftBank for collaboration regarding the Kioxia-Western Digital deal. The statement from SK Hynix did not comment on the company’s stance on the merger itself.

Kioxia and Western Digital Pursue Merger Amid Chip Market Challenges

Kioxia, along with Western Digital Corp, is currently pursuing a merger due to the global chip glut and weak demand for flash memory chips. This consolidation effort aims to alleviate the pressure faced by chipmakers in the current market.

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