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M&M puts Ssangyong bid on hold

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Mahindra & Mahindra, India's largest utility vehicles and tractor maker, said on Wednesday it would postpone a decision on whether to bid for troubled Korean carmaker Ssangyong Motor Co until closer to the August deadline.

"The company is awaiting some additional information and a decision will be taken on a date closer to the date of the final bid," the company said in a statement.

 

Mahindra is among the six firms short-listed to make a bid for the cash-strapped Korean firm, which has been under court-led restructuring since early 2009. The deadline for bids is Aug. 10.