No stake sale in Daimler: Geely
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.