* Bosch says to use money to fund investments, acquisitions
* Denso says no change to technology and business tie-ups
(Adds Denso comment, background)
FRANKFURT/TOKYO Nov 8 German auto parts
supplier Bosch said it sold its 5 percent stake in
Japanese peer Denso for roughly 1.1 billion euros ($1.4
billion) to fund investments and strategic acquisitions.
Bosch, the world's biggest auto parts supplier, said on
Thursday that the roughly 46 million shares it held in Denso,
the second-biggest parts maker, since the mid-1950s were
considered to be only a financial investment and that they were
sold in recent days.
Denso spokesman Shuji Kojima said there will be no changes
in existing technological and business tie-ups between the two
auto parts makers.
"We will continue to seek further cooperation within our
existing tie-up framework," he said.
Bosch and Denso, while competitors, have license agreements
under which they share certain powertrain-related technologies.
They also have a joint venture in the United States that
manufactures fuel pump parts, and another one in Japan that
produces car navigation systems.
Denso is owned 22.5 percent by Toyota Motor Corp.
Bosch was Denso's biggest shareholder after Toyota Motor and
Toyota Industries Corp.
($1 = 0.7840 euros)
(Reporting By Christiaan Hetzner in Frankfurt and Yoko Kubota
in Tokyo; Editing by Muralikumar Anantharaman)