The worldwide economic crisis strikes again in the auto world. Ford seems eager to dump Volvo and Mazda. Mazda seems to go out first. Of the 33.4% stake Ford has, the American car maker wants to sell 20%. While Ford will loose it’s majority and keep only 13%, competition will have a hard time getting those 20%. Ford will split it into 20 parts which will be sold to 20 different companies. 1% of Mazda shares costs about $40 million which means Ford is going to get some money out of the deal.
Like always when things are getting down like this, neither Ford nor Mazda is confirming the story. But we might see Ford selling the 20% later next month. Just in time for some Christmas shopping.
Tags: Ford, Mazda, shares