Govt Not To Sell Stake In Maruti Udyog

The government will not sell its shares in blue chip automobile company Maruti Udyog Ltd (MUL), official sources said here yesterday.

There is no proposal under consideration of the industry ministry to change the present equity structure in Maruti Udyog Ltd, ministry sources said.

The officials refuted news reports that the government was considering selling its entire 50 per cent stake in the joint venture company with Japanese automobile giant Suzuki Motors if offered an attractive price.

Maran had already written to Osamo Suzuki in Decembrer-January last stating the governments stand and since then the Japanese partners have not communicated formally requesting for change in equity structure, they said. Suzuki chairman had written to the government last month to suggest unification of management, but without explaining what it meant, sources said.