Malaysian conglomerate Sime Darby Bhd on Tuesday denied a media report that it was eyeing a substantial equity interest in the country’s top carmaker, Proton Holdings Bhd, according to Reuters.
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According to the news agency, the Edge financial newspaper reported at the weekend that Sime was likely to take a substantial stake in Proton as part of a plan by Sime’s South Korean business partner, Hyundai Motor Co Ltd , to gain control of Proton’s manufacturing base.
Sime told the stock exchange it was not aware of the basis of the report, Reuters added.
