December 5, 2018 / 2:14 AM / 10 days ago

China's BAIC sinks on report Daimler may raise stake in their venture

Dec 5 (Reuters) - Shares of BAIC Motor Corp slumped 13 percent on Wednesday after Bloomberg reported that Germany’s Daimler AG is considering increasing its stake in its joint venture with the Chinese company.

A potential increase in stake would echo a similar move by BMW, which agreed in October to pay 3.6 billion euros to take control of its main joint venture in China with Brilliance China Automotive Holdings Ltd. (Reporting by Sayantani Ghosh in Singapore; Editing by Muralikumar Anantharaman)

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