No more evo!!
http://news.yahoo.com/news?tmpl=stor..._mitsubishi_dc
DaimlerChrysler to pull plug on Mitsubishi?
DaimlerChrysler AG said Thursday it will not proceed with a $6 billion-plus bailout of Mitsubishi Motors, leaving the future of the struggling Japanese automaker in doubt. The announcement is an about-face from reports last week that the German automaker would increase its stake from 37 percent to more than 50 percent by 2007 at a cost of $3.8 billion by buying up more stock as part of a broader bailout that involved Japanese creditors.
"In an extraordinary meeting on April 22, 2004, the Board of Management and the Supervisory Board of DaimlerChrysler have decided not to participate in a capital increase planned by Mitsubishi Motors Corporation (MMC) and to cease further financial support for MMC," said an official statement from DaimlerChrysler.
"This clearly means separation," a DaimlerChrysler spokesman told Reuters, adding that the 37-percent stake would be booked as discontinued business until a buyer could be found. The decision will be explained by DaimlerChrysler chairman Juergen Schrempp today.
http://news.yahoo.com/news?tmpl=stor..._mitsubishi_dc
DaimlerChrysler to pull plug on Mitsubishi?
DaimlerChrysler AG said Thursday it will not proceed with a $6 billion-plus bailout of Mitsubishi Motors, leaving the future of the struggling Japanese automaker in doubt. The announcement is an about-face from reports last week that the German automaker would increase its stake from 37 percent to more than 50 percent by 2007 at a cost of $3.8 billion by buying up more stock as part of a broader bailout that involved Japanese creditors.
"In an extraordinary meeting on April 22, 2004, the Board of Management and the Supervisory Board of DaimlerChrysler have decided not to participate in a capital increase planned by Mitsubishi Motors Corporation (MMC) and to cease further financial support for MMC," said an official statement from DaimlerChrysler.
"This clearly means separation," a DaimlerChrysler spokesman told Reuters, adding that the 37-percent stake would be booked as discontinued business until a buyer could be found. The decision will be explained by DaimlerChrysler chairman Juergen Schrempp today.
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