Daimler To Delist From New York Stock Exchange

German car maker Daimler AG (DAI) said Friday it plans to delist its shares from the New York Stock Exchange, citing consistently low trading volume and a change in investor behavior.

"The trading center for our shares...clearly is Frankfurt -- and that is also the case for our international investors," said Chief Executive Bodo Uebber.

At the end of April, Uebber had said the company had no plans to delist from the U.S.

International investors now primarily trade in Daimler shares in Germany and through electronic trading platforms. Also, Daimler's trading volumes in the U.S. have been consistently low and, over a twelve month period, amounted to an average of well below 5% of the worldwide trading volume.

Daimler is the latest in a string of companies deciding to delist from the New York Stock exchange. Last month, Deutsche Telekom AG (DT) said it plans to delist its American depositary shares from the NYSE to reduce complexity in financial reporting and administrative costs. The delisting will become effective on or about June 21.

Allianz SE (ALV.XE), Europe's largest primary insurer by gross premium income, announced in September it would delist from the NYSE and other European stock exchanges, citing the same reasons.

Company website: www.daimler.com

-By Natascha Divac, Dow Jones Newswires; +49 69 29725 500; djnews.frankfurt@dowjones.com

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