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Suzuki says no word from India on Maruti sale

Japan's Suzuki Motor Corp said on Thursday that it has heard nothing from the Indian government about holding talks on the possible sale of the state's stake in carmaker Maruti Udyog Ltd.

An Indian government official said on Wednesday that the country is moving towards selling its holding in MUL, the nation's largest carmaker, which is equally owned by Suzuki and the Indian government.

The government cannot sell its shares in the firm without Suzuki's agreement.

Asked if Suzuki might consider buying the 50 per cent stake owned by India, a company spokesman said: "We cannot comment."

An Indian cabinet committee was expected to start the process of privatising the company at a meeting on November 18.

Suzuki Motor, Japan's largest maker of mini cars, is owned 20 per cent by General Motors Corp of the United States.

Suzuki's shares closed down 3.49 per cent in Tokyo at 1,189 yen.

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