Chipmaker Infineon seeks state guarantee -report
FRANKFURT, April 18 (Reuters) - Chipmaker Infineon (IFXGn.DE: Quote, Profile, Research) is in talks with the German government about receiving a several hundred million euro state guarantee, the German newspaper Welt am Sonntag reported.
An Infineon spokesman declined to comment on the report.
Infineon is preparing a plan to see it through the global economic crisis, which has reduced demand for semiconductors, intended to convince the Berlin government that it has a long-term future, the newspaper said in a preview received on Saturday of a story due out in print on Sunday.
The company, which must refinance more than 900 million euros ($1.18 billion) worth of corporate bonds and other credits by June 2010, wants a decision on state support at the latest in July, Welt am Sonntag said.
Sales of personal computers and mobile phones, key products for chipmakers, are expected to fall by 12 percent and 10 percent, respectively this year. [nL572785]
(Additional reporting by Jens Hack)
(Reporting by Peter Starck)
((peter.starck@thomsonreuters.com; +49 69 7565 1217; Reuters Messaging: peter.starck.reuters.com@reuters.net))
($1=.7628 Euro) Keywords: INFINEON/
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