Nanya Tech denies planning buyout of Qimonda venture
TAIPEI, April 2 (Reuters) - Nanya Technology Corp (2408.TW), Taiwan's No.2 DRAM maker, rebutted a report it planned to raise as much as $1 billion to buy out its partner Qimonda AG QI.N from their chip joint venture.
The company was responding on Wednesday to a news agency report that said Nanya may raise funds in the second half of this year to buy Qimonda's 35.4 percent stake in their chip venture Inotera.
"That's impossible. What the report said was wrong," Nanya Technology Vice President Pai Pei-lin told Reuters. "We haven't yet decided on how to handle Inotera."
About a month ago, Nanya and U.S. Micron Technology MU.N said they had signed a memorandum of understanding on technology licensing, creating a tie-up which could lead to Micron replacing Qimonda as Nanya's advanced technology partner.
There has been market speculation that Nanya might buy out Inotera (3474.TW), while some reports said both companies are in talks and have yet to decide which will buy the other's stake.
On Wednesday, Nanya Tech shares closed up 3.9 percent and Inotera shares rose 3.4 percent, outpacing the main TAIEX's 2.2 percent gain. (US$1=T$30.4) (Reporting by Baker Li; Editing by David Holmes)
