Hynix Semiconductor, one of the world's biggest memory chip makers, is set to be up for sale as early as late May, according to a leading creditor bank.
In a statement, the Korea Exchange Bank said: "A creditor steering committee is expected to make an public announcement on the Hynix sale in late May after due diligence, but the announcement schedule may be delayed due to time needed to complete the reviewing."
Creditor-turned-shareholders of Hynix have been trying to dump their combined 15 per cent stakes in the South Korean tech company, news.xinhuanet.com reports.
Potential buyers have resisted bidding for Hynix owing to burden for huge investment needed to run a chip maker.
Meanwhile, research from Gartner has revealed that sales of semiconductors saw the global market expand by 30 per cent in 2010 from the previous year. The total market came in at just under $300 billion (£184 billion) last year, figures show.
Posted by Andre Dixon