Nissan Explores Possible Sale Of 34% Stake In Mitsubishi Motors: Report
Highlights
Nissan Motor Co may sell its 34% stake in Mitsubishi Motors Corp in what would be a fundamental change in a three-way alliance that also includes France's Renault SA, Bloomberg News reported, citing unidentified sources.
Nissan is considering looking for potential buyers, which could include other shareholders such as trading firm Mitsubishi Corp, as it is worried it may struggle to recover from a downturn caused by the coronavirus pandemic, Bloomberg said.
"There are no plans to change the capital structure with Mitsubishi," Nissan told Reuters in an emailed statement.
Nissan, which is 43% owned by Renault, last week cut its operating loss forecast for the year to March by 28% to 340 billion yen (2.5 billion pounds), helped by a rebound in demand, especially in China.
Mitsubishi Motors, Japan's No.6 automaker, expects to post an operating loss of 140 billion yen for the business year.
Both companies are cutting production levels and costs in a bid to return to profitability.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
Last Updated on November 16, 2020
Great Deals on Used Cars
View All Used Cars- 46,324 km
- Petrol
- AMT
- 35,000 km
- Petrol+CNG
- Manual
- 29,065 km
- Diesel
- Manual
- 16,178 km
- Diesel
- Automatic
- 19,000 km
- Diesel
- Automatic
- 19,798 km
- Petrol
- Manual
- 5,903 km
- Petrol
- Manual
- 25,279 km
- Diesel
- AMT
- 19,398 km
- Diesel
- Manual
- 13,870 km
- Petrol
- Manual
Upcoming Cars
Upcoming Bikes
Explore More
Latest News
Related Articles
Trending Vehicles In India
- Home
- News
- Electric Mobility
- Nissan Explores Possible Sale Of 34% Stake In Mitsubishi Motors: Report