• Most Popular
  • Most Shared

UPDATE 1-DaimlerChrysler to exit Iran marketing arm -report

Mon Feb 12, 2007 12:16pm EST

(Adds company reaction in paragraph 4)

FRANKFURT, Feb 12 (Reuters) - DaimlerChrysler DCXGn.DE intends to divest its majority stake in the company that is its exclusive distributor for Mercedes-Benz vehicles in Iran, Germany's WirtschaftsWoche magazine reported on its website.

"The group is reacting to the growing pressure that the United States is applying on companies that do business in Iran," the magazine said on Monday, without giving a source for its information.

It said DaimlerChrysler would sell its 51 percent stake in marketing group Setareh in the next few weeks.

DaimlerChrysler, the world's fifth-biggest carmaker thanks to the 1998 merger of Germany's Daimler-Benz with U.S. automaker Chrysler, declined comment.

Washington has been stepping up pressure on Iran, which it accuses of harbouring ambitions to develop nuclear weapons. Iran insists its nuclear energy programme is for peaceful purposes.



More from Reuters

Joint Terminal Attack Controller SSgt Clinton J. Herbison, a U.S. Airman from the 817 Expeditionary Air Support Operations Squadron (EASOS) takes a break during a night mission near Honaker Miracle camp at the Pesh valley of Kunar Province August 12, 2009. Credit: REUTERS/Carlos Barria

Pictures of the Year

A look at the best photos of 2009.  Slideshow 

    PICTURES
    The Dalai Lama jokes with a nasal spray after being asked his opinion on the swine flu during a press conference after his first lecture in Lausanne, Switzerland, August 4, 2009. REUTERS/ Valentin Flauraud

    What a wacky year it's been...

    Um, what's up the Dalai Lama's nose? "Oddly Enough" editor Bob Basler rounds up the goofiest photos of the year.  Full Article 

    Oddly Enough
    A caution sign is seen next to a stock board at the Australian Securities Exchange (ASX) in Sydney September 5, 2008. REUTERS/Daniel Munoz
    Political Risk in 2010:

    Don't say we didn't warn you

    With the financial crisis (mostly) in the past, U.S. investors are eying a fresh start to the coming year. Here's a look at what speedbumps lie ahead.  Full Article 

    Global Markets