Infineon well placed for acquisitions- CFO

FRANKFURT: German chipmaker Infineon is well equipped financially for future acquisitions, but has no concrete plans for takeovers at the moment, a German newspaper quoted its chief financial officer as saying.

"We continuously examine, without any hastiness, options that make sense to eventually strengthen our business in one of our business areas," Marco Schroeter was cited by Financial Times Deutschland as saying in an interview published on Monday.

"However, there are no concrete plans at the moment."

Schroeter added that the company was in a position to raise more than 1 billion euros ($1.24 billion) for takeovers through bonds and its authorised capital.

He said a big acquisition could not be ruled out. "But we will not embark on spontaneous and imprudent actions," he said.

Asked about the company's wireless chip business, Schroeter said: "We are currently very happy with our mobile phone chip segment, it has been developing very well."

Financial Times Deutschland last week reported, citing sources at Infineon and the financial industry, that the company has hired JP Morgan  to map out a possible divestment of the business.