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Autos

Daimler CEO says there are no plans to pursue a merger or spin-off

FILE PHOTO: Ola Kaellenius, chairman of Daimler AG talks to Dr. Nicole Hoffmeister-Kraut, economics minister of state Baden-Wuerttemberg before CEOs of German carmakers meet to discuss the industry's challenges and strategy in Berlin, Germany, July 4, 2019. REUTERS/Annegret Hilse/File Photo

FRANKFURT (Reuters) - Daimler DAIGn.DE has no plans to spin off its trucks division or to pursue a merger with BMW BMWG.DE as a way to raise the company's share price, Chief Executive Ola Kaellenius said on Wednesday.

“There are no plans to change the capital structure of Daimler,” Kaellenius told analysts on a call to discuss second-quarter results.

Kaellenius further said Daimler was not considering deeper ties with rival BMW which involved a cross shareholding or deal.

“There are no plans to combine with BMW in any way,” Kaellenius said.

Reporting by Edward Taylor; Editing by Thomas Seythal

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