Mazda shares fall on Ford pullout speculation

Mazda Motor Corp have seen their shares drop to lowest they have been in eight years. This is a direct result of the speculation that Ford is to sell their stake in the Japanese automaker. Mazda shares fell by 37 yen or 13 percent, shares closed at 247 yen.

Ford has been forced in to the decision to pullout of Mazda, as Ford’s U.S. sales have plunged dramatically. It is not certain how much of their stake they wish to sell, but they need to raise cash, something that is now more urgent following the news that Kerkorian wants to offload his shares in Ford.

On a good note, the Yen is up as it touched 127.01 per euro; this is the strongest it has been since April 2004. Is this a sign that the markets are starting to stabilize, I would not get my hopes up.

Source

CLICK HERE to keep updated with the latest news, share a comment or problems with products and services. Follow us on twitter or read more MAZDA news.