LONDON Japanese DRAM maker Elpida Memory Inc. (Tokyo, Japan) said it has no plans to invest in struggling German chip company Qimonda AG (Munich, Germany), according to a Reuters report.
There has been speculation that Infineon Technologies AG, which owns the major portion of Qimonda's stock, was seeking a deal with a DRAM company. According to Reuters, Infineon's share price spiked on Thursday on the rumor that Elpida could agree to pay between $1.1 billion and $1.3 billion for Qimonda.
"Given the current market conditions, we have no plan at all to invest in Qimonda," Reuters quoted Elpida as saying in a statement distributed on Friday (Aug. 29).
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