March 26, 2009 / 7:04 AM / 10 years ago

Qimonda looks to Taiwan, Russia for help - paper

FRANKFURT, March 26 (Reuters) - Qimonda’s QMNDQ.PK insolvency administrator has been in talks with potential investors in Taiwan and Russia in a quest to find a financial backer for the German memory chipmaker, a newspaper reported.

Administrator Michael Jaffe was hoping for signs that there would be further talks in both countries, Sueddeutsche Zeitung reported on Thursday, citing company sources.

Those showing signs of interest were mostly state-owned companies while private investors had so far shown little interest in talking a stake in Qimonda, the paper said.

Jaffe’s office was not immediately reachable for comment.

Last week, China’s Inspur Electronic Info Industry (000977.SZ) said an affiliate had approached Qimonda, among other foreign technology groups, for talks.

Qimonda filed for insolvency on Jan. 23 after it said a 325 million euro ($438.7 million) rescue attempt by its home state of Saxony, parent company Infineon (IFXGn.DE) and a group of banks had not come in time. [ID:nLN168875].

Qimonda is suffering from a massive drop in prices for dynamic random access memory (DRAM) chips, as are peers such as Elpida 6665.T and Samsung (005930.KS).

The world’s fourth biggest maker of DRAM chips faces liquidation if it cannot find a financial investor. ($1=.7408 Euro) (Reporting by Nicola Leske; editing by Simon Jessop)

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