Mahindra submits letter of intent for Korea firm-srcs

Newswire

MUMBAI, May 28 (Reuters) - India's largest utility vehicles and tractor maker Mahindra & Mahindra has submitted a letter of intent to bid for South Korea's Ssangyong Motor Corp , two sources with direct knowledge of the deal told Reuters on Friday. One source said Mahindra would bid for buying the cash-strapped Korean utility vehicles maker in which China's SAIC Motor Corp has a 10 percent stake. Earlier a source had told Reuters that French carmaker Renault has submitted a ...

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