Infineon Directionless (Mannerisms)

Infineon Directionless

Peter Bauer, recently promoted from the curious title of 'Spokesman of The Management Board' to CEO of Infineon, in succession to ex-CEO Dr Wolfgang Ziebart, says that the company is gathering all the internal information needed to present a memorandum to potential buyers.

The deadline for collecting all this information is 'late summer'. NXP, Broadcom, Mediatek, Texas Instruments and Freescale, all rivals to Infineon in the wireless chip-set business, are the names in the frame as M&A partners. Samsung, a customer of Infineon for wireless chips, could also take a look at it.

One of the issues over which the Infineon supervisory board and Ziebart are supposed to have fallen out - the disposal of DRAM subsidiary Qimonda - seems no nearer resolution.

Bauer says the company intends to reduce its stake in Qimonda from 77 per cent to under 50 per cent by next year's AGM, due to take place in February 2009.

Bauer is also not denying possible job cuts.

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Posted by David Manners on July 3, 2008 12:39 PM | Permalink|

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This page contains a single entry from the blog posted on July 3, 2008 12:39 PM.

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Mannerisms

Ruminations on the semiconductor industry from David Manners