Sat, 2019-05-11 19:12
BEIJING/FRANKFURT: China’s BAIC Group is seeking to buy a stake of up to 5 percent in Daimler as a way to secure its investment in Chinese Mercedes-Benz manufacturing company Beijing Benz Automotive, three sources familiar with the matter told Reuters.
BAIC informed Daimler of its intention to buy a 4-5 percent stake in the German maker of Mercedes-Benz cars earlier this year, two of the three sources said.
BAIC has asked local authorities in Beijing to support a 4-5 percent stake purchase, two of these sources said.
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