MMC to pay Daimler up to $770 mln in damages-paper

Newswire

TOKYO, Jan 21 (Reuters) - Mitsubishi Motors Corp. (MMC) and DaimlerChrysler AG will likely settle on compensation of 50-80 billion yen ($484-774 million)over the German firm's damages claims, the Nihon Keizai newspaper said. In June, Daimler asked MMC for compensation over scandals at truck maker Mitsubishi Fuso Truck and Bus Corp., saying the value of its holding in Fuso had dropped following a series of cover-ups of defects and recalls. The paper said the two companies are expected to ...

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