DaimlerChrysler: No Current Plan to up Mitsubishi Stake

SINDELFINGEN, Germany, Feb 20, 2003; Reuters reported that carmaker DaimlerChrysler AG said today that it had no current plans to increase its stake in Japanese partner Mitsubishi Motors Corp.

"An increase in our participation at Mitsubishi is not planned at present," DaimlerChrysler Chief Financial Officer Manfred Gentz told the group's annual news conference, adding that a capital injection was also not on the cards.

DaimlerChrysler holds 37 percent of Mitsubishi and has an option to raise the holding from this autumn. DaimlerChrysler has said it may boost its stake once Mitsubishi's operating performance and debt levels have improved.

Gentz noted that Mitsubishi had a positive effect on DaimlerChrysler profits in 2002.