UPDATE 1-MMC to pay Daimler up to $774 mln in damages-paper

Newswire

(Adds DaimlerChrysler confirming talks, stock prices) TOKYO, Jan 21 (Reuters) - Mitsubishi Motors Corp. (MMC) will probably settle with DaimlerChrysler AG to pay the German company 50-80 billion yen ($484-774 million) in compensation for damage claims, the Nihon Keizai newspaper said. In June, Daimler asked MMC for compensation, saying the value of its holding in truck maker Mitsubishi Fuso Truck and Bus Corp. had dropped following a series of cover-ups of defects and recalls. The ...

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