Mehdi Aqdaei explained that the move requires cabinet approval and a decision on this will be made soon, Persian daily ’Jam-e Jam’ reported.

Presently, the Industrial Development and Renovation Organization (IDRO) holds over 40 percent of the shares of the two companies.

Earlier, managing director of Iran Khodro, Manouchehr Manteqi said that two reliable European automaker companies had shown interest in purchasing the shares of Iran Khodro. However, IDRO denied this.

According to the latest information, representatives from one of the mentioned European automakers came to Iran and visited Iran Khodro plant last week. The names of the European automakers were not disclosed.

Also, Head of Majlis Industries and Mines Commission said, “We should welcome the purchase of the stocks of these two companies by foreign automakers given its huge advantages.“

Seyyed Hossein Hashemi noted that if a foreign company purchases 40-50 percent of the stocks of Iran Khodro or Saipa, it will benefit both automakers. Given the extensive propaganda against Iran, the deal with foreign automakers will be also good in terms of politics and will have positive political outcome, he added.

He pointed out that although a part of the shares of the two companies had been ceded to the private sector, they are still run by state managers.