Suzuki Motor Corp and estranged partner Volkswagen seemed headed for arbitration, after VW refused again to sell its 20 percent stake back to the Japanese carmaker and put a floundering two-year alliance out of its misery. While German group VW has long wanted to revive a deal that was once a major strategic coup for Europe's largest carmaker, its hopes have dimmed rapidly with Suzuki repeatedly saying the two must go their separate ways.
Suzuki said on Friday it aimed to buy back the shares from VW by this time next year. If VW chose not to, not even placing them with a third party, the Japanese carmaker would seek arbitration even if it meant losing time.