Infineon Technologies AG further specified the divestiture of its interest in Qimonda. Accordingly, Infineon aims to reduce its stake in Qimonda to significantly below 50 percent by the Annual Shareholder Meeting 2009. The company will continue executing its strategy to reduce its stake through secondary offerings and other capital markets measures. Any cash inflow from such sales is to be used for selective acquisitions to strengthen Infineon's business or to repurchase Infineon shares. The plan also envisages taking all necessary measures at the Annual Shareholder Meeting 2008 required to enable distribution of Qimonda shares as a dividend in kind to Infineon shareholders. Such a dividend would then be possible after the Annual Shareholder Meeting 2009.
"Carving-out and listing our memory business last year effectively created two focused companies, each with a well-defined strategy and clear prospects. With today's decision, we are gaining another option to reduce our stake and are increasing the flexibility regarding the speed of the reduction. At the same time we are strengthening both companies and are accommodating the interests of our shareholders," said Dr. Wolfgang Ziebart, President and CEO of Infineon.
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