JP Morgan to invest Y25 bln more in MMC-paper

Newswire

TOKYO, June 28 (Reuters) - J.P. Morgan Chase will invest 25 billion yen ($233 million) more than originally planned in troubled Mitsubishi Motors Corp (MMC), raising the total value of a rescue package to 500 billion yen, a local newspaper said on Monday. MMC said in May it had secured a $4 billion bailout under which U.S. bank J.P. Morgan Chase would buy 100 billion yen of preferred shares that come without voting rights while Phoenix Capital, a Tokyo-based investment fund, would acquire ...

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