Japanese newspaper Nikkei reported today that FoMoCo is planning on selling most of its remaining stake in Mazda. The report said that Ford would reduce its 11 percent stake to 3 percent or less in a move to further distance itself from the Japanese automaker.
Ford denied the report and said that its “ownership stake in Mazda remains unchanged.
“Ford continues to have a close strategic relationship with Mazda and we cooperate in areas of mutual benefit,” Ford said in a statement. “We have no further comment on the speculation.”
With a stake of 11 percent Ford is the largest shareholder of Mazda.
– By: Omar Rana