Daimler sees Geely become largest shareholder with 9.7% stake
Geely [HGK:0175], a Chinese carmaker, has become the largest shareholder in German rival Daimler [ETR:DAI] by acquiring a 9.7% stake, Neue Zuercher Zeitung reported citing a regulatory filing.
The German-language newspaper said Geely acquired the shares for around EUR 7.5bn over the past few weeks.
A Daimler spokesperson said all long-term orientated investors are welcome. The Kuwaiti state fund was previously the largest shareholder with 6.8%, the report noted.