Apparently, a Chinese state-owned company called "Inspur" might want to buy 50 % of Qimonda, if Saxony and Portugal are willing to take the other half "for an interim period". The company would keep the European manufacturing base and build a new factory in Shangdong. According to Qimonda's administrator, this would be "a unique opportunity to work with a Chinese government company which has the strong strategic goal of making China's IT industry independent of Korea, Taiwan and the US". So we are talking about a "strategic German/Portuguese/Chinese technology alliance"? If it's so wonderfully strategic, I presume that mundane matters such as "profits" are a secondary concern...
Never heard of Inspur. According to their website, they are a leading IT company involved in hard- and software. And apparently, a strategic decision was made in 2008 for Inspur to go into semiconductors, and to invest 3 bn RMB (330 m €), with 2/3 of the funds coming from the Shandong government and the national government. So they seem to be rather serious about it.
It's interesting that they have the precondition of Saxony and Portugal taking a stake. Presumably, they are not sure if the company has a future, and want the reassurance that others also believe in the business model?
(Knowing how these things usually work, there are likely to be all sorts of other demands which we don't know about: Government subsidies, debt to be forgiven by the creditors, etc.)