Daimler attracts interest of Geely; aims for up to 5% stake
Geely [HGK:0175], a Chinese carmaker, is said to be interested in acquiring a significant stake in German rival Daimler [ETR:DAI], Frankfurter Allgemeine Zeitung [FAZ] reported.
The German-language newspaper claimed that Geely would be willing to acquire a stake between 3% and 5%. FAZ based its article on an unconfirmed report published by China Finance Online.
The report noted, Geely had already signalled an interest in acquiring a stake in Daimler via a rights issue last autumn, but Daimler rebuffed the idea. It is unclear whether Geely is now planning to accumulate shares via the stock exchange.
Daimler has a market cap of EUR 76.14bn.
The original article was published in today’s print edition of FAZ on page 22.