Ford (F) Could Lower Stake in Mazda - WSJ
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Price: $14.23 +0.28%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 5.8%
Revenue Growth %: -5.3%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 5.8%
Revenue Growth %: -5.3%
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Ford Motor Co. (NYSE: F) is considering a sale of large part of its stake in Mazda Motor Corp., according to a report from the Wall Street Journal on Sunday citing people familiar with the matter.
Ford currently has an 11 percent stake in the Japanese automaker but is reportedly looking to reduce its holding to 11 percent or less. The company stake of 195 million Mazda shares is currently worth 41.7 billion yen ($511.7 million) based on the stock's closing price on Friday.
The U.S> automaker will use the proceeds of the stake sale to pay down debt and invest in emerging markets, according to the report from the Journal.
Shares of Ford are down 7 cents to $13.73 in premarket trade on Monday.
Ford currently has an 11 percent stake in the Japanese automaker but is reportedly looking to reduce its holding to 11 percent or less. The company stake of 195 million Mazda shares is currently worth 41.7 billion yen ($511.7 million) based on the stock's closing price on Friday.
The U.S> automaker will use the proceeds of the stake sale to pay down debt and invest in emerging markets, according to the report from the Journal.
Shares of Ford are down 7 cents to $13.73 in premarket trade on Monday.
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