Toshiba's top shareholder would sell stake to Bain -filing

TOKYO :The top shareholder in Toshiba Corp would sell all of its shares if private equity firm Bain Capital were to launch a takeover bid, Effissimo Capital Management said in a regulatory filing.

When asked about the filing, a spokesperson for Singapore-based Effissimo, which owns about 9.9per cent of Toshiba, said the fund plans to announce its stance at the appropriate time.

Toshiba had no immediate comment, a spokesperson said, while a Bain spokesperson was not immediately available for comment.

Reuters reported last year that Bain was looking at formulating a bid to take Toshiba private, making it one of several companies said to be interested in such a deal.