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Infineon shares gain on reports of Qimonda sale

Posted: 05 Sep 2008     Print Version  Bookmark and Share

Keywords:DRAM supplier  shares  sale  remaining stake 

Shares in Infineon Technologies AG are again rising on reports that a sale of its remaining stake in DRAM supplier Qimonda AG is imminent. Micron Technologies is now being quoted as the most likely buyer.

Shares in Qimonda have also risen, by 13.4 per cent, to Rs.97.72 ($2.28), on late trading Tuesday (Sept. 2).

The Financial Times Deutschland for instance suggested that a sale could be negotiated within weeks, citing unspecified sources.

Infineon would not comment on suggestions on a breakthrough in on-going talks with interested parties.

Last week Japanese DRAM maker Elpida Memory Inc. said it had no plans to invest in the struggling German memory maker in a Reuters report following suggestions that Elpida could agree to pay Infineon between Rs.4,714.43 crore ($1.1 billion) and Rs.5,571.60 crore ($1.3 billion) for the 77 per cent stake Infineon still holds in Qimonda. The companies already collaborate on manufacturing.

And The Idaho Statesman reported over the weekend that Micron investor relations executive Kipp Bedard hinted on a Boise radio show that the company was looking at potential acquisitions among its rivals.

"Our competitors are in terrible financial shape," Bedard said on Boise financial adviser Dave Petso's weekly radio show. "That does create opportunities for acquisition. Were looking at that right now."

The Statesman article stressed that Bedard did not directly confirm that Micron hopes to buy Qimonda, but reported that he said: "This particular company we're talking about in Germany is selling at point-four book value. You couldn't build capacity at even close to that price."

- John Walko
EE Times Europe

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