February 27, 2018 / 1:11 PM / 3 months ago

No sign of violations in Geely purchase of Daimler stake: Merkel

BERLIN (Reuters) - Germany is open towards its trading partners and at a first look, there are no obvious violations linked to Geely’s (0175.HK) acquisition of a $9 billion stake in Daimler (DAIGn.DE), Chancellor Angela Merkel said on Tuesday.

FILE PHOTO: The Geely Automobile Holdings logo is pictured at the Auto China 2016 auto show in Beijing, China April 25, 2016. REUTERS/Kim Kyung-Hoon/Files

“We are open to our trading partners and at a first look there are no violations in this regard,” she told reporters.

    She added that there were questions about possible holes in transparency around disclosure requirements but that was a matter for BaFin financial sector regulator.

    “Our aim is to keep a sustainable car industry in Germany - that is our political, strategic aim.”

    Reporting by Madeline Chambers; Editing by Thomas Escritt

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