Infineon to give Apollo up to 29 pct in capital hike

FRANKFURT, July 9 (Reuters) - Infineon (IFXGn.DE) plans a 700 million euro ($974.3 million) capital increase that could see buyout firm Apollo take a stake in the German chipmaker of up to 29 percent, a German paper reported on Thursday.

Apollo [APOLO.UL] has agreed to buy all remaining shares in a planned rights issue that are not picked up by existing shareholders, Financial Times Deutschland (FTD) reported in an excerpt of an article to be published on Friday, citing unspecified sources.

The capital increase has been approved by Infineon's supervisory board, the paper added.

Apollo aims to obtain a stake in the chipmaker of at least 15 percent, FTD said.

Infineon declined to comment when contacted by Reuters (Reporting by Ludwig Burger)