Truckmaker AB Volvo will pay ¥29 billion (US$280 million) for 5% of Mitsubishi Motors Corp. in a deal that resembles the Renault SA-Nissan Motor Co. Ltd. alliance on a smaller scale. In a letter of intent, Mitsubishi says it will buy 5% of Volvo over the next three years. Today, such participation would cost US$600 million. The deal allows Volvo to strengthen its position in Asia; Volvo currently has a truck plant in India and a truck-making joint venture in China. Mitsubishi officials ...
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