DaimlerChrysler To Sell Hyundai Stake

DaimlerChrysler is to sell the 10.5 per cent stake it bought in Hyundai four years ago for an estimated $1 billion – more than twice what it paid. This is another reversal for DaimlerChrysler’s Asian strategy, as only last week the company announced that it would not inject further funds into Mitsubishi, where DaimlerChrysler holds a 37 per cent stake.