Infineon CEO wants to sell flagging Qimonda unit… badly
Written by admin on July 27th, 2008 in gadgets.
by Darren Murph, posted Jul 27th 2008 at 11:31AM
Little known tidbit for those not keenly watching the happenings at Infineon: the firm was forced to write down the value of its Qimonda stake by €1 billion ($1.57 billion) in April. Not surprisingly, Infineon’s head honcho is about ready to rid the company of the flagging unit, making quite a few direct statements in a Germany daily saying as much. For starters, CEO Peter Bauer stated that “a complete sale is possible as is a sale of a minority stake,” and he continued by affirming that it was already “speaking to financial investors and other companies in the industry.” Just in case you had any doubts whatsoever that this cat was serious, he proclaimed that “[the firm] was working with utmost urgency on the question how to close the chapter on Qimonda as quickly as possible.” Unrequited love at its finest.
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