Norway sovereign wealth fund opposes Toshiba breakup plan

Asian Tech Press (Mar. 21) -- Norway's sovereign wealth fund opposed Toshiba's breakup plan, according to Reuters.

The world's largest sovereign wealth fund voted in favor of a shareholder proposal to ask Japanese electronics firm Toshiba Corp. to solicit buyout offers from private equity firms before a special meeting on March 24.

The fund voted against Toshiba's plan to split up by divesting some of its businesses, a voting record showed.

The fund owns 1.22% of Toshiba, according to Refinitiv.

Similarly, the State Board of Administration of Florida (SBA), which owns 0.22% of Toshiba, voted against the management-backed spin-off plan and backed a proposal from Singapore-based 3D Investment Partners, Toshiba's No. 2 shareholder.

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