Infineon to Cut Qimonda Stake to Below 50% by 2009
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Infineon Technologies AG, Europe’s second-biggest semiconductor maker, will cut its stake in an unprofitable memory-chip unit to ‘significantly’ less than 50 percent by 2009, putting a timetable on its sale of the shares.
Infineon will reduce its ownership of Qimonda AG through secondary offerings and other capital markets measures, the company said in a statement. The target will be reached by the 2009 annual shareholder meeting at the latest, Infineon said today. The company also will seek shareholder approval next year to distribute Qimonda shares as a dividend.
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