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July 2, 2004. [Financial Times] DaimlerChrysler is set to reclassify its investment in Mitsubishi Motors (MMC) as "non-strategic and available for sale" later this year. Kurt Sanger, analyst at ING, said that as well as clearing the way for an eventual sale, the dilution of DaimlerChrysler's stake to less than 20 per cent would enable it to treat its share of MMC's forecast net loss of Y230bn for the year to March 2005 as a balance sheet item, removing it from its profit and loss account. It is understood negotiations are under way to dissolve a range of "alliance projects" in transmissions and engines that had not yet been announced publicly.
June 28, 2004. Frankfurt. In an interview with German newspaper Tagesspiegel, DaimlerChrysler board member Eckhard Cordes said his company plans to take legal action after determining the amount of losses on the investment. (Kyodo News)