Proton Holdings Bhd today clarified that it has no plan to divest its distribution arm, Proton Edar Sdn Bhd to Edaran Otomobil Nasional Bhd (EON), in return for a stake in the latter.
The national car maker, in a statement today said that it is currently in discussion with EON on rationalisation of the Proton sales and service network.
Proton and EON signed a memorandum of understanding (MoU) to begin discussion in April 25.
The MoU, however has since been extended to May 2.
The company said that it would be making the necessary announcement on the network rationalisation in due course.
Share price of Proton gained 13 sen to RM3.12 as at 11.53 am today.
