MMC to raise rescue package up to Y546 bln

Newswire

TOKYO, June 28 (Reuters) - Troubled Mitsubishi Motors Corp (MMC) said on Tuesday it plans to raise its financial rescue package to up to 546 billion yen ($5.05 billion) from 450 billion yen, with J.P. Morgan Chase investing an extra 50 billion yen. 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. Phoenix Capital, a Tokyo-based investment fund, would acquire between ...

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