UPDATE 2-MMC to become M'bishi Heavy affiliate - paper

Newswire

(Adds announcement date, time in paragraphs 4-5) TOKYO, Jan 27 (Reuters) - Mitsubishi Motors Corp. (MMC) will become an affiliate of Mitsubishi Heavy Industries Ltd. as part of the group's effort to rescue the ailing auto maker, the Nihon Keizai Shimbun reported on Thursday. Mitsubishi Heavy, which originally spun off MMC in 1970, would buy another 50 billion yen ($481 million) worth of shares in its sister company, raising its stake to above 15 percent from a little less than 10 percent ...

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