China's BAIC Moves to Double Stake in Daimler -Reuters

Date : 12/16/2019 @ 3:49AM
Source : Dow Jones News
Stock : Daimler AG (DAI)
Quote : 46.69  -0.185 (-0.39%) @ 4:34PM

China's BAIC Moves to Double Stake in Daimler -Reuters

Daimler (XE:DAI)
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--BAIC Motor, Daimler's main Chinese joint-venture partner, has initiated a plan to double its stake to around 10% and win a board seat in the German luxury car maker, Reuters reported Sunday, citing unnamed sources.

--State-owned BAIC, currently Daimler's third-largest shareholder, has started buying the German company's shares from the open market, a move aimed to surpass its Chinese rival Zhejiang Geely Holding Group, which owns 9.69% of the German auto maker, Reuters reported.

 

Full story: https://reut.rs/36DsQwL

 

Write to Singapore editors at singaporeeditors@dowjones.com

 

(END) Dow Jones Newswires

December 15, 2019 22:34 ET (03:34 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.


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