No stake sale in Daim­ler: Geely

The Hindu Business Line - - NEWS -

Zhe­jiang Geely Hold­ing Group said on Fri­day that the com­pany has not sold any shares in Ger­man car­maker Daim­ler AG, deny­ing a Bloomberg re­port which said the Chi­nese firm had cut its 9.7 per cent stake by more than half. “As a long-term in­vestor, Zhe­jiang Geely Hold­ing has not sold any shares. The Daim­ler share­hold­ing re­mains un­changed,” a Hangzhou-based spokesman for Geely told Reuters. Bloomberg re­ported that Chi­nese bil­lion­aire Li Shufu’s Geely had cut its Daim­ler stake on Fri­day, cit­ing peo­ple fa­mil­iar with the mat­ter.

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