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China's BAIC signaled willingness to increase its stake in Daimler: Report

Officials at BAIC's listed company BAIC Motor Corp Ltd said at investor conferences in mid-October "both sides are willing to increase stake in the other"

Reuters  |  Beijing/Frankfurt 

A Daimler sign name is pictured during the company's annual news conference in Stuttgart, Germany
A Daimler sign name is pictured during the company's annual news conference in Stuttgart, Germany

Daimler's main Chinese joint venture partner BAIC Group signalled its intention to increase its stake in the German luxury car manufacturer last month, sources briefed on the matter said, after it built up a 5% stake in July.

Officials at BAIC's listed company BAIC Motor Corp Ltd said at investor conferences in mid-October "both sides are willing to increase stake in the other", responding to questions about future relationship between BAIC Group and Daimler, sources said.

and BAIC were not immediately available for comment.

First Published: Mon, November 25 2019. 15:37 IST
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