(adds FAS citing Zetsche on foreign state fonds)
FRANKFURT, Sept 6 German car maker Daimler
(DAIGn.DE) on Saturday rejected management was considering any
type of spin-off or sale of the company's trucks business after
an advance report in Der Spiegel magazine citing works council
opposition to the plans.
"We are on track to execute our strategies. A break up is
not an issue for us," a spokesman said, referring to Daimler's
target to reach a 9 percent EBIT margin over the cycle at its
He cited synergies like BlueTec technology for exhaust gas
after-treatment that was developed at Daimler Trucks and later
introduced at Mercedes-Benz.
The magazine report, which is due to appear in the weekly
magazine on Sept. 8, cited works council chairman Erich Klemm as
saying workers would heavily oppose a spin-off.
A spin-off or exchange listing of the unit had reportedly
been required by Swedish financial investor Cevian, who
reportedly bought a two percent stake in the company, the
"A few percent of share ownership would stand against 100
percent of employees," Klemm said.
The Daimler spokesman would not comment on whether Cevian
Capital had built a two percent stake or if it was pushing for a
sale of trucks.
Daimler Chief Executive Dieter Zetsche was quoted in another
story abstract issued ahead of full publication on Sept. 7 that
foreign state investors were welcomed by his company so as to
rein in the influence of aggressive private equity investors.
"I have no prejudices against state funds," Zetsche was
quoted as saying in the Frankfurter Allgemeine Sonntagszeitung,
be it Arabs, Russians or Chinese, he said.
(Reporting by Christiaan Hetzner and Vera Eckert; editing by