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.

You must be logged in to post comments.

Password (case sensitive):
Remember Me:
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 © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 34678049 -
Gray Television, Inc.