Tuesday , March 26 2019

Geely denies report it cut Daimler stake

Bloomberg

Zhejiang Geely Holding Group denied selling any of its 9.7 percent stake in Daimler AG, following a Bloomberg report that the holding had been cut in half.
Geely, in a statement on its website, said that as a long-term investor in Daimler and its largest single shareholder, it has no plans to cut its holding in Daimler and that the holding remains unchanged.
Morgan Stanley disclosed in a regulatory filing that it had voting rights associated with a 5.4 percent stake in Daimler. The bank is holding the shares on behalf of others, a person familiar with the situation said. Morgan Stanley was one of the banks that helped Geely finance its original purchase of the stake in Daimler.

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