Infineon To Sell Wireless Business For €1.5 Billion

German chip maker Infineon is looking to sell its wireless business for €1.5 billion and is currently in negotiations with several prospective buyers.

Citing two sources with direct knowledge of the discussions, financial news site Bloomberg has reported that the company has made "significant progress" in negotiations with interested parties and that an agreement within the next 10 days is inevitable.

US-based chip giant Intel is suggested to be amongst the potential buyers for the wireless business.

According to the sources, Infineon, Europe's second largest chip maker, has also not ruled out the possibility of a joint venture, instead of sell the business.

Speaking to Bloomberg, Malik Kamal-Saadi, an analyst with Informa Telecoms & Media, said: “The wireless business has shown spectacular growth and for this reason I’m a bit sceptical that they’re simply going to sell it. Instead of an exit, they could find a strong partner, like Intel. I think that would be the wiser move.”