Toshiba denies report it will propose Olympus equity tie-up

Sun Jan 15, 2012 7:41pm EST
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TOKYO (Reuters) - Toshiba Corp (6502.T: Quote) on Monday denied a newspaper report it was set to propose an equity tie-up with scandal-hit Olympus Corp (7733.T: Quote).

"There is no truth to this," a Toshiba spokesman told Reuters, after the Nikkan Kogyo said the company was expected to submit a business plan to Olympus's financial advisers.

(Reporting by Isabel Reynolds; Editing by Chris Gallagher)