Fleet News

Speculation mounting over Ford increasing stake in Kia

SPECULATION is mounting that Ford is preparing to increase its stake in the Kia Motors Corporation as the Korean manufacturer continues to gear up for its UK fleet launch. Ford executives have been in negotiations for several months with Kia bosses and it is believed those talks are with a view to the company increasing its existing stake in the manufacturer.

Ford already has a 9.4% stake in the company and through Mazda - in which Ford has a 33.4% interest - the global giant has a further 7.0% share of Kia. Following the financial crisis in the Far East, and particularly in Korea, which threatened to undermine the future of Kia and other major Korean companies, the International Monetary Fund told the Korean Government that it must allow more foreign investment.

However, a Ford spokesman said he was aware of the speculation that the company was 'trying to buy Kia out' but added: 'We have our holding in Kia and our only interest is in maintaining that. There are no moves to take Kia over or increase our stake.'

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