Financial Times FT.com

Kerkorian raises stake in Ford

By Bernard Simon in Toronto

Published: June 19 2008 18:12 | Last updated: June 19 2008 18:12

Kirk Kerkorian, the 91-year-old billionaire, has again raised his stake in Ford Motor, and signalled a continuing interest in injecting capital into the lossmaking US carmaker.

Tracinda, Mr Kerkorian’s holding company, has disclosed that it now owns 6.5 per cent of Ford, up from the 5.6 per cent it held following a tender offer to other shareholders earlier in June. The latest disclosure comes two days after a meeting between Tracinda and Ford’s chairman Bill Ford and chief executive Alan Mulally.

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