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2/23, 1:46 PM (Source: TeleTrader)
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Mitsubishi Motors to stay in Europe despite plan - report

Mitsubishi Motors Corporation is likely to abandon its decision to leave the European market and build cars in France, the Financial Times reported on Tuesday, citing people familiar with the matter.

The "framework agreement" between Mitsubishi and its partners, Nissan and Renault, was reached on Monday, the report read, and explained that the details are to be sorted out on Thursday "at a board meeting."

The outlet also cited its sources who warned that the deal could still "fall apart" if Mitsubishi, the smallest of the three carmakers within the alliance, decides that the move would better suit the interests of the French government, which owns a 15% stake in Renault, than its own.

Breaking the News / BU