Ford Motor Co plans to sell down its 11% stake in Mazda Motor Corp to a few percent as it distances itself from the Japanese automaker, a source with knowledge of the matter said on Saturday.
Trading house Sumitomo Corp and other Japanese business partners of Mazda are in talks to buy the shares set to be sold by Ford, and final decision on the sale is likely to be made by the end of the year, the source said.
The source spoke on condition of anonymity because the deal has not been made public. The Nikkei newspaper first reported on the likely stake sale by Ford earlier on Saturday.
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