MMC says to buy part of Soueast from China Motor

Newswire

TOKYO, Dec 28 (Reuters) - Japan's Mitsubishi Motors Corp. (MMC) said on Tuesday it would buy part of a 50 percent stake owned by Taiwan's China Motor Corp. in Southeast Fujian Motor Corp. (Soueast) to strengthen MMC's China production and sales. MMC and China Motor had signed a memorandum of understanding (MOU) and would begin discussing details such as the scale of equity participation, the struggling Japanese auto maker said in a statement. In September, China Motor, Taiwan's ...

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