DCX Will Keep Diluted Ownership Position in Mitsubishi Motors

FRANKFURT, May 21, 2004; Reuters reported that DaimlerChrysler AG reiterated on Friday that it plans to keep its stake in Japanese partner Mitsubishi Motors Corp even though the holding was diluted by a capital increase.

"It is still the case that we are keeping this stake. We do not intend to find a new buyer," DaimlerChrysler spokesman Thomas Froehlich said. He said he could not yet say exactly how big the reduced stake would be.

DaimlerChrysler had a 37.3 percent stake in MMC before the capital increase but its supervisory board decided last month not to put any more money into the loss-making Japanese ally.