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DaimlerChrysler prepares to sell Smart

DaimlerChrysler has appointed Goldman Sachs, the investment banking firm, to gauge interest in the unprofitable Smart division of its Mercedes group.

Analysts suggest a sale of Smart would be unlikely to raise significant cash for DaimlerChrysler, given its loss making position, but this doesn’t matter. Exiting participation in a loss making venture would be worth realising the sunk costs, it has been suggested.

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