Mazda: Ford to Cut Stake to 13 from 33.4 Percent

By: Associated Press Email
By: Associated Press Email

Tokyo (AP) Japan's Mazda Motor Corp. says U.S. automaker Ford Motor Co. will cut its stake in Mazda to 13 percent from 33.4 percent.

Mazda said Tuesday it would spend up to 17.9 billion yen, or $185.3 million, to buy back up to 6.87 percent of its own shares in a Wednesday morning off-hours purchase.

The rest of the stake is to be bought by a group of Mazda's business partners.

The sale would provide Ford some desperately needed cash as it awaits a decision from Washington on government aid for the auto industry.


KKCO firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKCO 11News.

powered by Disqus
KKCO NBC 11 News 2531 Blichmann Avenue Grand Junction, CO 81505 Station Phone: 970.243.1111 Business Fax: 970.243.1770 Newsroom Fax: 970.245.3793 News Tip & Contest Line: 970.255.8477
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 34678049 - nbc11news.com/a?a=34678049
Gray Television, Inc.