UPDATE 2-China's Geely buys shares in Germany's Daimler - sources [Reuters]
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Source: Reuters
China's Geely buys shares in Germany's Daimler: sources | Reuters 4 Min Read FRANKFURT/BEIJING (Reuters) - Chinese carmaker Geely has bought shares in German car and truck maker Daimler ( DAIGn.DE ), two people familiar with the matter told Reuters, as the Chinese owner of Volvo cars seeks to strike an alliance over electric cars technology. The size of the stake is unclear but likely to be below 3 percent, as that level would require Geely to make a regulatory disclosure in Germany. It was also unclear whether Geely, which owns London taxi manufacturer LEVC as well as stakes in Volvo trucks ( VOLVb.ST ) and Lotus sportscars, had sought to buy more Daimler shares. In November, sources told Reuters that Daimler, the parent company of Mercedes-Benz, had turned down an offer from Geely to take a stake of up to 5 percent via a discounted share placement. At the time, Daimler declined to issue new shares because it did not want to see existing stockholders diluted, sources with knowled
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