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Western Digital says confident about its legal position in Toshiba's chip business

A Western Digital Corporation hard drive is pictured here in Encinitas, California April 19, 2011. REUTERS/Mike Blake/Files

TOKYO (Reuters) - Western Digital Corp said in a statement on Wednesday it remains confident it can protect its interests in its memory chip joint venture with Toshiba Corp.

Toshiba said earlier in the day that it has signed a memorandum to accelerate talks to sell the business to a rival bidding group led by private equity firm Bain Capital and chipmaker SK Hynix Inc.

"We are disappointed that Toshiba would take this action despite Western Digital's tireless efforts to reach a resolution that is in the best interests of all stakeholders," it said.

(Reporting by Makiko Yamazaki; Editing by Edwina Gibbs)