LONDON — The possibility of a German or Saxony state government-backed rescue plan for DRAM maker Qimonda, or its parent Infineon Technologies AG, is receding as the language among various stakeholders turns acrimonious.
Infineon (Munich, Germany) has reacted to what it claims are accusations published in the German daily newspaper Sueddeutsche Zeitung, and were referenced as being leveled at Infineon by officials within the national government and the government of the state of Saxony.
This comes one day after Infineon made it clear that it was exasperated at the way the state of Saxony had floated a $400 million rescue for Qimonda that would cost Infineon $200 million, it reckons it cannot afford (see Infineon rejects Saxony's Qimonda rescue terms story).
In a statement issued Thursday (Dec. 18) Infineon said that in that morning's edition of the Munich paper it had been reportedly accused of including fictitious transactions in Infineon's and Qimonda's rescue plan and asserted that these allegations are false. Infineon went on to say that although Sueddeutsche Zeitung states that such allegations had been raised in government circles they were never brought before Infineon during negotiations with officials. Infineon added that as Qimonda is an independent company it cannot intervene in its accounts and that the business plan presented by Qimonda during negotiations had been audited by accountants Price Waterhouse Coopers and Arthur D. Little.
"The claim raised by the government of the state of Saxony, according to Sueddeutsche Zeitung, that Infineon had submitted different proposals to a number of individual negotiators is false. What is correct is that Infineon, during the course of the negotiations, improved and raised substantially its original offer of support for Qimonda," Infineon said in the statement.
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