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Published on Saturday, October 11, 2008
By LA Daily News Staff Writer
TOKYO - Mazda denied Saturday that a decision had been made by troubled Ford Motor Co. to sell its stake in the Japanese automaker, but didn't rule out a possible deal.
Japanese media reported Saturday that Ford was considering selling its one-third stake in Hiroshima-based Mazda Motor Corp. Public broadcaster NHK, without citing sources, reported that Ford would maintain some of its stake in Mazda and management ties.
"Nothing has been decided," Mazda said in a statement received Saturday. "Any important decision will be disclosed."
Dearborn, Michigan-based Ford said in a statement, "We do not want to comment on speculation."
"Our relationship with Mazda has not changed," Ford said.
The move, should it happen, would be a symbolic retreat for U.S. automakers in Japan. General Motors Corp. similarly sold off its stakes in Japanese automakers in recent years.
http://dailynews.com/business/ci_10700575
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