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Electronics Production | May 16, 2008

Sistema interested in Infineon

The Russian Sistema-Group has shown interest in the financially stricken German chip maker Infineon. “For us, Infineon is a very interesting target – especially the R&D segment“, said Alexander Gontscharuk, Head of Sistema, in an interview with Handelsblatt.
In this difficult situation, Infineon could become an acquisition candidate. However, Gontscharuk states that a complete acquisition of the company is unlikely. There would be political barriers; the company is a “Flagship of the German industry”. Additional to that, the time was not right for a complete acquisition, as cost disadvantages of production in Western Europe and Asian competition play a vital role in the decision. Infineon is currently planning a strategic restructuring of the company and wants to divest Qimonda. Sistema is today the biggest conglomerate in the former Soviet countries. Different from most other Russian companies, Sistema does not make business in raw materials, but in telecommunications and Hightech, reports the Handelsblatt. Rumours state, that both companies have started talks about a possible acquisition. Gontscharuk is rejecting such rumours and says: “We are not active, we watch, how the situation develops.”
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