Another ghost exorcised

Another chapter in Juergen Schrempp’s book of horrors has been closed. DaimlerChrysler has sold its minority stake in Mitsubishi Motors, the loss-making Japanese carmaker, to Goldman Sachs. Daimler shareholders can breathe a sigh of relief. Daimler has tried to put the best gloss on the sale – pointing out that it will write up a profit of E500m on the heavily written-down book value of the Mitsubishi stake. In reality it looks to have made a thumping loss on the investment. Consider the numbe...