Wary lenders, a watchful government and activist investors scrutinizing every move. Add to the mix infighting among prospective buyers, including a consortium involving more than 20 different Japanese companies and financial institutions.

It¡¯s no wonder that Toshiba¡¯s buyout decision was delayed for months.

The rocky road to the storied conglomerate¡¯s $15 billion (?1.96 trillion) sale to a group led by private equity firm Japan Industrial Partners is raising fresh doubts about Toshiba¡¯s ability to navigate a fast-changing tech landscape, given all the competing interests tugging at it.