|
|
|
| AsiaViews, Edition: 48/VI/March2010 |
|
| MMC, PSA nix capital tie-up |
|
Mitsubishi Motors Corp. and PSA Peugeot Citroen of France have announced they are canceling plans for a capital tie-up.
Osamu Masuko, president of Mitsubishi Motors, met with Philippe Varin, the PSA chairman, during the Geneva International Motor Show that is now on and agreed to work more closely in business matters, including the production of low-priced compact cars.
However, a capital tie-up was deemed "not appropriate in the current circumstances," according to statements from the two companies.
A Mitsubishi Motors official said uncertainties in the global automobile market were a factor behind the decision.
Reports of a possible capital tie-up emerged last December amid slumping car sales in key markets because of the global recession.
|
|
|
|
| The Asahi Shimbun, 04 March 2010 |
|
|
Your Letters | 
About Us | 
Contact Us 
