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News Center Company News
Elpida open to share swap with Qimonda
  Japan's Elpida (6665.T: Quote, Profile, Research, Stock Buzz) is open to a share swap or buying a stake in Infineon's (IFXGn.DE: Quote, Profile, Research, Stock Buzz) Qimonda (QI.N: Quote, Profile, Research, Stock Buzz), the chief executive of Elpida told a German newspaper in an article published on its website on Thursday.

The remarks gave new hope to investors that Infineon could finally find a buyer for its struggling chips business, sending shares in Infineon up over 5 percent.

"We have never talked about a share swap or buying stakes," Yukio Sakamoto told the Frankfurter Allgemeine Zeitung. "But we are very open for such talks."

Earlier this year, Infineon wrote down its stake in memory chipmaker Qimonda (QI.N: Quote, Profile, Research, Stock Buzz) by 1 billion euros in preparation for a sale as Qimonda dipped into the red and prepared to slash jobs.

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 exposure to the volatile memory chip market.

Infineon has grouped its part of Qimonda under "assets held for sale" as a first step towards offloading it.

Qimonda's shares were trading up more than 15 percent to $4.95 by 1556 GMT.
release time :6/13/2008
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