Shares resold ?: Daimler shares easier: Geely denies reduction of Daimler's share by more than half | message
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The news agency Bloomberg had reported, citing insiders, Geely had sold 5.4 percent of the shares. Geely owner Li Shufu entered the German traditional group with 9.7 percent in February of last year, making him one of the largest shareholders in the DAX Group. Since then, it is largely unclear what Li intends strategically with the share. There is a first small cooperation in China, where Daimler and Geely have founded together a luxury travel agent.
Geely has also invested in the European industry with billions in investments. The Chinese are owners of the Swedish car manufacturer Volvo and also involved in the same truck manufacturer with 8.2 percent of the shares and 15.6 percent of the voting rights.
On Thursday, US investment bank Morgan Stanley announced a 5.4 percent stake in Daimler shares on January 4. Investment banks often buy and sell larger blocks of shares for the account of clients.
Daimler shares fall in the course of 2.02 percent to 48.30 euros.
/ Men / fba
HANGZHOU / STUTTGART (dpa-AFX)
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