Geely Automobile Holdings Ltd (0175.HK)
23 Feb 2018
Sat, Feb 24 2018
BEIJING/FRANKFURT Chinese carmaker Geely [GEELY.UL] has built up an almost 10 percent stake in Daimler in a $9 billion bet by its chairman that he can access the Mercedes-Benz owner's technology in the growing battle for the future of automotives.
* Geely plans to meet Daimler execs, German officials (Adds Geely plans to meet Daimler executives, hopes to meet senior German officials; bankers involved in deal)
FRANKFURT/BEIJING Officials from Chinese carmaker Geely plan to meet Daimler executives early next week after announcing the acquisition of an almost 10 percent stake in the Mercedes maker, two sources familiar with the situation said.
FRANKFURT, Feb 23 Li Shufu, the chairman and main owner of Chinese carmaker Geely, has amassed a stake of 9.69 percent in Daimler AG, the German carmaker said in a regulatory filing on Friday.
* CHINA'S GEELY IS BUYING A $9 BILLION STAKE IN DAIMLER - BLOOMBERG, CITING SOURCES Source text: https://bloom.bg/2BLYdck
STOCKHOLM Sweden's Volvo Car Group expects stronger earnings and sales this year after the Chinese-owned automaker reached new records on both counts in 2017 thanks to strong demand for a string of new models, particularly in China.
* CEO sees stronger sales, earnings in 2018 (Adds CEO comment, detail)
STOCKHOLM, Feb 8 Operating earnings at Sweden's Volvo Car Group leapt 28 percent to a record high last year as the Chinese-owned automaker saw strong demand for a string of new models, above all in China.
FRANKFURT/BEIJING Chinese carmaker Geely has bought shares in German car and truck maker Daimler , two people familiar with the matter told Reuters, as the Chinese owner of Volvo cars seeks to strike an alliance over electric cars technology.
* Stake seen as likely to be less than 3 percent (Adds Daimler CEO comment)