Ford denies report of selling most of its Mazda stake

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

Source: Reuters