August 1, 2018 / 1:13 PM / 4 months ago

STMicro shares rise briefly on report of Infineon interest in 2017

(Reuters) - Shares in technology company STMicroelectronics (STM.PA) rose briefly on Wednesday after Bloomberg News reported that German peer Infineon (IFXGn.DE) had approached STMicro in 2017 over a possible takeover.

STMicroelectronics shares briefly rose 1.5 percent before falling back to trade down 0.5 percent by 1240 GMT.

Shares in Infineon were down 3.4 percent.

Officials at Infineon and STMicroelectronics declined to comment.

“We view larger deals that would significantly change market shares (of chip makers) very critically,” Infineon CEO Reinhard Ploss said on an analyst call on Wednesday.

Reporting by Gwenaelle Barzic, Sudip Kar-Gupta, Helen Reid, and Douglas Busvine; editing by Jason Neely

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