Senior DaimlerChrysler management team is expected to meet next week to discuss the ailing Japanese affiliate Mitsubishi Motors, a source told a news agency.
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The unnamed source told Reuters he was unable to disclose details of the meeting or whether it would involve all members of the DaimlerChrylser management board, headed by chief executive Juergen Schrempp.
But he reportedly said Dieter Zetsche, who sits on the board and heads Chrysler Group, had cancelled his planned appearance at a promotional event next Thursday in Orlando, Florida, to attend the meeting in Germany.
“It’s pretty easy to come to the conclusion that there’s going to be a board meeting next week,” the source told Reuters.
The news agency noted that Zetsche declined to discuss published reports about a possible DaimlerChrysler bailout of Mitsubishi in brief remarks on Wednesday to reporters at Chrysler’s headquarters in Detroit, though he acknowledged that DaimlerChrysler, which owns a controlling 37% of Mitsubishi, had been in talks with its Japanese partner about “the framework” for future cooperation between the carmakers.
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By GlobalDataA Mitsubishi group source told Reuters in Japan earlier this week that Daimler plans to raise its stake in Mitsubishi to over 50% as part of a restructuring plan aimed at providing it with badly needed capital.
