The Nihon Keizai newpaper reports that DaimlerChrysler AG is preparing to pay about 80 billion yen ($675 million) for 40 percent of Mitsubishi Motors Corp.’s (MMC) yet to be set up truck company.

Other reports suggest that MMC is asking for aid from Mitsubishi heavy industries and Mitsubishi Corporation for its debt-ridden truck and bus division.

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MMC and DaimlerChrysler (a 37% stakeholder in MMC) have been considering plans to spin off MMC’s truck and bus operations into a separate company as early as January 2003.

DaimlerChrysler is said to want to invest further in the truck unit in order to strengthen its position in Asia.

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