UPDATE 1-India approves selling remaining Maruti stake

Newswire

(Adds background) NEW DELHI, Dec 21 (Reuters) - India's cabinet has approved selling the government's remaining 10.27 percent stake in car maker Maruti Udyog Ltd. , Finance Minister Palaniappan Chidambaram said on Thursday. The stake will be sold to banks and financial institutions and bids are expected soon. Indian mutual funds would also be eligible to take part, he said. No details were given on when the sale would take place. Maruti is 54.2 percent owned by Japan's Suzuki Motor ...

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