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Foreign carmakers may buy Iran Khodro's shares: director

TEHRAN, April 4 (Mehr News Agency) -- Two major foreign carmakers are willing to purchase stocks in Iran's leading auto manufacturer Iran Khodro Co.(IKCO), the company's managing director stated Wednesday.

Two major foreign carmakers are mulling over the purchase of parts of the shares of IKCO, however, if the issue is not influenced by the current international conditions, this will happen, noted Manuchehr Manteqi. He also added that the development would significantly contribute to the presence of Iran Khodro in the global markets and pave the way for its cooperation with other car producers at the world levels.

"For the time being, I can't disclose the names of the bidder companies. I just say that one of them is among the world's seven major auto producers", he said when an ISNA reporter asked about the identity of the purchaser companies.

In its bid to enter the Luxemburg and London stock exchanges over the past years, Iran Khodro conducted negotiations with the financial institutions, but none of the discussions have reached tangible results.

Iran Khodro is said to be the largest car manufacturer in the Middle East.

... Payvand News - 4/5/07 ... --

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