F&I Management & Training

Ford and Mazda have dismissed rumours that the US carmaker plans to sell the majority of its shares in the Japanese company.

Reuters reported this weekend that the struggling American compqny was considering the sale of its Mazda shares.

A source told Reuters Ford was thinking of selling about 20 per cent of its 33.4 per cent stake in Mazda and that it had approached Japanese companies about a possible sale.

"Mazda has not announced anything and nothing has been decided," a Mazda spokesman said.

"As far as we're concerned it's pure speculation," added a spokesman from Ford.

According to the report, Mazda is likely to be interested in acquiring some of the shares.

Ford's sales figures have plummeted due to the recent financial crisis, hitting a 26-year low.

Mazda has a market capitalisation of $4.1bn (£2.4bn), with Ford's stake valued at around $1.36bn.

DATED: 13.10.08

FEED: MT