Infineon, the German semiconductor company, confirmed today that Siemens, the German electronics giant from which Infineon was spun off in March, would not reduce its stake further in the company this year.

The statement by Infineon, which today unveiled a 72% increase in sales for the year to September and an 18-fold increase in net income, confirms the report last month by efinancialnews that Siemens had put a secondary sale of Infineon shares on ice as a result of market conditions.