Taiwan's China Motor joins Mitsubishi bail-out

Newswire

TAIPEI, May 21 (Reuters) - China Motor , Taiwan's second-largest automaker, said on Friday it had joined a $4 billion bail-out of Mitsubishi Motors Corp by buying 10 billion yen ($88 million) of preferred shares in the Japanese manufacturer. The move will help strengthen cooperation between the two companies, China Motor said in a statement. Mitsubishi, Japan's fourth-largest carmaker, said on Friday it had secured $4 billion in emergency rescue funds to shore up its balance sheet and ...

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