F&I Management & Training

Ford's share price fell more than 6 per cent to close at $2.17 (£1.33) in New York yesterday.

The decline follows billionaire investor Kirk Kerkorian's decision tosell 6.5 per cent of his stake in the US carmaker.

Kerkorian still holds 1.33.5 million shares but may yet dispose of more after talks of a merger between General Motors and Chrysler intensified.

He has a long association with GM and for a time Kerkorian's investment vehicle, the Tracinda Corporation, was its biggest shareholder.

In April Kerkorian bought 140.8 million Ford shares for around $7 each for around $1bn.

Yesterday, Kerkorian sold 7.3 million of those shares for about $2.43 each - an immediate $17m loss.

DATED: 22.10.08

FEED: MT