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Daimler says does not expect CIC to take 10 pct stake
February 25, 2013 / 7:16 AM / in 5 years

Daimler says does not expect CIC to take 10 pct stake

FRANKFURT, Feb 25 (Reuters) - German car maker Daimler does not expect Chinese sovereign wealth fund China Investment Corp to take a 10 percent stake in the company, its chief financial officer told a German newspaper.

“No, I don’t expect this to happen. There is a lot of speculation about us looking for another anchor shareholder in addition to Kuwait, but that’s not true,” Bodo Uebber told Handelsblatt in an interview published on Monday.

In January, shares in Daimler rose following a Chinese media report that CIC, the country’s investment vehicle, was interested in buying a stake of between 4 and 10 percent stake in Daimler.

Kuwait holds a 7.6 percent stake in the company. (Reporting by Christoph Steitz; Editing by Mark Potter)

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