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Market doubts wisdom of Ssangyong takeover

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Market doubts wisdom of Ssangyong takeover

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Korea’s Ssangyong motor company is being bought by India’s Mahindra and Mahindra in a deal worth over 340 million euros.

The loss-making Korean company says the deal should be completed by March next year.

The deal gives Mahindra access to more advanced engines, but analysts say it has paid nearly top dollar for Ssongyang, and rescuing the company may be beyond it.