FRANKFURT, Germany-Siemens AG has reduced its stake in chipmaker Infineon Technologies Inc. by selling 150 million shares, leaving Siemens with about a 20-percent stake in the semiconductor firm.
Siemens had a 40-percent stake in the company. The decision comes as Infineon’s shares have been on the upswing and analysts expect the chipmaker to remain viable in the market. Infineon is the second-largest chipmaker in Europe.
The sale will earn Siemens $770 million.
