Ford Motor Co. sells its 9% stake in Kia Motors Corp. but declines to reveal details of the deal. A Ford spokesman says only that the move was a business opportunity for which the timing was right. The U.S. automaker in October failed to acquire Kia Motors and its affiliate Asia Motors Inc. in an international auction. Hyundai Motor Co. Ltd. has since acquired Kia and Asia Motors. ING Baring Securities says in published reports that it handled the Ford sale of 6.84 million Kia shares to ...
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