February 25, 2018 / 11:45 AM / 6 months ago

Berlin sees no need to act on Geely's purchase of Daimler stake

BERLIN, Feb 25 (Reuters) - The purchase by Chinese carmaker Geely of an almost 10 percent stake in Germany’s Daimler is a company decision and there is no need for Berlin to take action, a German government spokesman said on Sunday.

“The German government is aware of the acquisition of 9.7 percent of Daimler shares by the Chinese firm Geely,” said the spokesman.

“It is a company decision. Due to the character of the investment as a minority stake, there is no need to act in terms of competition rules or foreign investment rules,” the spokesman added. (Reporting by Andreas Rinke; Writing by Madeline Chambers; Editing by Georgina Prodhan)

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