China’s Geely denies Bloomberg report, says has not sold shares in Daimler

12-Jan-2019 Intellasia | Reuters | 6:00 AM Print This Post

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 percent 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.


Category: China

Print This Post