Shares of Mitsubushi Being Acquired
May 22, 2006
Satellite Standard Group makes every effort to keep you informed, even if the correlation between the story and satellite radio is way off the radar screen. Sometimes such events wind up playing a role in the moths or years ahead, and sometimes they do not, but either way, we feel it is worth reporting.
This story relates to Mitsubishi Motors, a Sirius satellite radio partner here in the U.S.
via
Forbes.comTAIPEI (XFN-ASIA) - China Motor Corp (2204.TW) said its wholly-owned investment arm Hwa Hong Investment Co Ltd (Samoa) acquired 5.67 mln shares, representing a 0.11 pct stake, in Japan's Mitsubishi Motors Corp at prices ranging from 223.5 yen to 234.0 yen a share, or a total of 1.30 bln yen, during March 7-19. The parent company and Hwa Hong now own a total of around 20 mln shares in the Japanese firm, according to a China Motor official. Mitsubishi Motors, meanwhile, owns about 14 pct of China Motor. China Motor makes Mitsubishi-branded automobiles in Taiwan. (1 usd = 32.00 twd)While we here at SSG see virtually no effect on SDARS, it is interesting to note the ownership interests in the OEM world. In particular, the auto manufactures in China. There have been a few efforts by Chinese auto manufactures to penetrate into the U.S. auto markets. It goes without saying that should a Chinese company put vehicles on these shores, that Sirius and XM would be seeking a satellite radio deal. again, no real impact from this particular deal, but worth noting as we follow the OEM sector.Check out China Motor Corps webiste....some interesting vehicles....
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