In order to reduce the impact of the volatile semiconductor market on its earnings, Siemens has said it wanted to cut its 54 percent stake in Infineon. It will dilute its holding by not participating in any upcoming share sale, said Siemens spokeswoman Sabine Metzner.
"Our intentions haven't changed," said Metzner. "We still want to reduce our shares of Infineon." Siemens shares rose 1.93 euros, or 2.3 percent, to 85.38 euros.
The filing "has not yet become effective," said Infineon in a statement on the Frankfurt stock exchange newswire.
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