Wednesday, December 16, 2009

Rumorville: Ford Asks Denso to Buy Mazda Shares

In times like this rumors are bound to flourish. Following last weekend's unconfirmed reports that cash-strapped Ford is considering selling the majority of its 33,4% stake in Mazda, Japan's Nikkei business daily reported today that the American carmaker approached auto parts supplier Denso to buy a small part of Mazda. The Japanese newspaper's unnamed sources said that the number of Mazda shares that Denso would acquire hadn't yet been finalized. However, the report noted that Denso was likely to buy less than 1% of Mazda's stock from Ford.

Denso on its behalf issued a statement on its official website that creates more questions than answers. "Today a Japanese newspaper reported that DENSO is considering the purchase of shares of Mazda Motor Corporation from Ford Motor Company. DENSO has not announced any information regarding this article. DENSO does not have any information to disclose at this moment," said the company's press release.

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