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China's Inspur says approached Qimonda among others
Updated: 2009-03-20 18:39

China's Inspur Electronic Info Industry said on Friday its affiliate firm had approached insolvent chip maker Qimonda among other foreign tech firms, and talks may lead to a possibility of outcomes.

In a scheme aimed at boosting its chip industry, China's coastal Shandong province has gathered a few local technology firms, including an affiliate of Inspur, to start talks with overseas firms, including Qimonda, Inspur spokesman Zuo Baicheng said.

"The talks are all at a very early stage, which could lead to all types of consequences," Zuo told Reuters in a telephone interview. "They are studying all possibilities."

Shandong Sino-Chip has a registered capital of 300 million yuan ($44 million), with Inspur one of its three shareholders with a 33.3 percent equity stake, according to its website.

Inspur's President Sun Pishu also serves as the chairman and chief executive officer of Sino-Chip.

Several sources familiar with the situation had said earlier that Inspur was in talks with Qimonda, adding that the talks might founder on the State-controlled Chinese company's insistence that Germany also take a stake in Qimonda.

The Economics Minster of the German state of Saxony said on Thursday the state may take a stake in Qimonda, possibly clearing the way for a private investor to step in and help salvage the struggling company.

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