China’s Geely says it has not bought Daimler shares, denies report, Auto Information, East Auto Information
Bloomberg reported that Chinese language billionaire Li Shufu’s Geely had bought a 5.Four per cent stake, citing individuals aware of the matter, however that the brand new homeowners of the shares weren’t identified.
The report comes as Morgan Stanley disclosed in a submitting on Thursday that it had elevated its Daimler stake to five.39 per cent from 0.34 per cent on Jan. 4. In keeping with Bloomberg, Morgan Stanley is holding the shares on behalf of others.
Daimler and Morgan Stanley declined to touch upon the Bloomberg report.Li had picked up the 9.7 per cent stake in Daimler in 2018, asking the maker of Mercedes-Benz vehicles to strike up an alliance to raised counter the risk from upstart mobility corporations.
His transfer rekindled German fears about high-tech know-how falling into Chinese language fingers and Daimler had initially balked on the prospect of an alliance, partly on fears it’d alienate Mercedes’ present Chinese language accomplice BAIC.