Report: Ford to Reduce Stake in Mazda

VOA Breaking News (Voice of America)
November 17, 2010 at 6:45 am

A Japanese news report says U.S.-based Ford Motor Company will sell most of its stake in Japanese-based automaker Mazda.

Japan’s leading business daily, The Nikkei, says Ford will sell off most of its 11 percent stake in Mazda to 10 Japanese companies, leaving it with three to four percent of the company’s shares.

The newspaper says trading houses Itochu Corporation and Sumitomo Corporation will each acquire a three-percent stake in Mazda.

The Nikkei did not cite any sources for its story.

Some information in this story was provided by AP, Bloomberg and Reuters.