Infineon to sell Qimonda

Posted on Monday, Jul 28 2008 @ 23:13 CEST by Thomas De Maesschalck
Reuters writes Infineon is in talks with private equity firms and companies about the sale of its loss-making Qimonda memory chip division. Infineon CEO Peter Bauer says Infineon wants to get rid of Qimonda asap:
"There are no taboos: a complete sale is possible as is a sale of a minority stake," Peter Bauer told Sueddeutsche Zeitung in an interview published on Saturday.

"We are speaking to financial investors and other companies in the industry," Bauer added.

Communications and automotive chipmaker Infineon has failed to find a buyer for the 77 percent of Qimonda it owns after carving out and listing its former memory unit in 2006 in the hope of cutting its exposure to the volatile memory chip market.

"We are working with utmost urgency on the question how to close the chapter on Qimonda as quickly as possible," Bauer said.

Infineon wants to have a solution by in time for its annual general meeting next year.

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Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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