The flurry of auto industry marriages continued today with DaimlerChrysler, Stuttgart, and Mitsubishi Motors, Tokyo, announcing plans to form a venture to jointly design and sell cars. DaimlerChrysler will spend a reported $2 billion to acquire a 34% stake in Mitsubishi. The final deal is expected to be inked in the next few months. Industry observers expect DaimlerChrysler would consolidate Mitsubishi's global media buying at its own shops-- BBDO
Worldwide-owned PentaCom, Troy, Mich., handling North America; BBDO's GFMO, Hamburg, with Germany; and DCMA, which has the rest of the world.
Copyright March 2000, Crain Communications Inc.