Infineon Technologies AG (IFX) said Friday it will raise provisions after Qimonda AG (QI) filed for insolvency.
Infineon said it intends to raise provisions for liabilities linked with Qimonda in the first quarter of fiscal 2009. It added that it expects higher provisions in the course of the fiscal year, amounting to a low three-digit-million-euro sum.
Infineon, which spun off Qimonda in 2006, still holds a a 77.5% stake in the company.
Earlier Friday, Qimonda said it had filed for insolvency.
Company Web site: www.infineon.com
-By Archibald Preuschat, Dow Jones Newswires; +49 69 297 25 505; archibald.preuschat@dowjones.com
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