Proton should remain in Malaysian hands -Mahathir
KUALA LUMPUR, April 18 (Reuters) - Malaysian state carmaker Proton Holdings Bhd (PROT.KL) should not be sold to a foreign car firm, Proton adviser and former premier Mahathir Mohamad said on Wednesday.
"If you sell to a foreign company it is no longer a national car," said Mahathir, who is being increasingly sidelined by his successor's administration. "If you want to sell, you have to sell to a local company."
The government, which controls Proton through state asset investment agency Khazanah Nasional, has been locked in talks with foreign carmakers like Volkswagen and General Motors GM.N as well as local car companies Naza and DRB-Hicom Bhd (DRBM.KL) over an alliance and the sale of a stake in Proton.
"What is important is to remove the management and put back the old management who have been able to do well," he said in response to questions on how Proton should look for a partner.
((Reporting by Clarence Fernandez, editing by Hsu Chuang Khoo; Reuters Messaging Hsuchuang.khoo.reuters.com@reuters.net; Kuala Lumpur newsroom areuters@gmail.com; +603 2275 6846)) Keywords: PROTON/
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