Ford Attempts To Off Load A Portion Of Stake In Mazda

Ford Motor Co has asked Japanese auto parts supplier Denso Corp to buy part of its stake in Mazda Motor Corp, the Nikkei business daily reported on Thursday.

Denso the world's largest listed auto parts maker and a core supplier of Toyota Motor Corp group, is likely to consider the request because it wants to expand business with business with Mazda, the Nikkei said.

The number of shares that Denso would buy and the price has not yet been negotiated, but Denso was likely to acquire less than 1 percent of Mazda's stock from Ford, the paper said.

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commander104 - 10/16/2008 12:29:20 PM

+3 Boost

I was wondering when yesterday's news would show up here. Anyway, I thought Mazda is the best division Ford has going for them right now.

M35MT - 10/16/2008 1:34:26 PM

+2 Boost

Not exactly a "division". Ford simply owns 30% of their shares, giving them 1/3 of the proxy rights.

holmstar - 10/16/2008 2:14:12 PM

+3 Boost

If you can trust wikipedia, ford currently has 33.9% of Mazda. In order for ford to keep its controlling share under Japanese law, this deal would have to be for no more than .6%

woood - 10/17/2008 12:33:25 AM

+2 Boost

Ford needs to sell Mazda to get some cash to lose again later. Mazda should be sold back to Japanese (Not a major auto manufacturer) companies so it can spread its wings and fly and not be stuck under Ford's very poor management decisions.

M35MT - 10/17/2008 8:26:52 AM

+1 Boost

They've strangled their marketing budget, which, Mazda could really thrive if they had better advertising.