Infineon Cleans House

Last month, Infineon reported a loss before interest and taxes of 280 million euros (about $385.8 million). Excluding Qimonda, Infineon said it would have reported a positive EBIT of 13 million euros.

"Carving-out and listing our memory business last year effectively created two focused companies, each with a well-defined strategy and clear prospects," Infineon CEO Wolfgang Ziebart said in a statement.

"With today's decision, we are gaining another option to reduce our stake and are increasing the flexibility regarding the speed of the reduction," Ziebart said.

Infineon said it would reduce its stake to "significantly" below 50% no later than its 2009 annual shareholder meeting. A date for that meeting has not yet been chosen, according to the spokeswoman.

Infineon said it will continue to reduce its Qimonda stake through secondary offerings and other capital market measures, with any cash inflow from such sales going toward acquisitions or buybacks of Infineon shares.

Qimonda's stock was down 4.7%, or 68 cents, at $13.60 in midday trading.

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