Nissan to Spend $2.2 Billion for Controlling Stake in Mitsubishi

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Yesterday’s vague Japanese media reports proved right this morning, as Nissan Motor Co. announced it will purchase a 34 percent controlling stake in scandal-plagued Mitsubishi Motors. Taking advantage of Mitsubishi’s reduced market value following its the company’s admission of cheating on Japanese fuel economy tests, Nissan’s 237 billion yen ($2.2 billion) bulk buy of shares […]