Japan's Mitsubishi Motors gets $2.63 bln bailout

Newswire

TOKYO, Jan 28 (Reuters) - Ailing auto maker Mitsubishi Motors Corp. (MMC) said on Friday it had secured financial aid worth 270 billion yen ($2.63 billion) from the Mitsubishi group, its second rescue package in eight months. Mitsubishi Tokyo Financial Group Inc. (MTFG) , trading house Mitsubishi Corp. and machinery maker Mitsubishi Heavy Industries Ltd. will buy a combined 270 billion yen in preferred and common shares to be issued by MMC. That includes 50 billion yen of MMC's debt that ...

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