This content is not available in your region

Daimler eyes stake in VW's used car portal Heycar - Handelsblatt

Access to the comments Comments
Daimler eyes stake in VW's used car portal Heycar - Handelsblatt
FILE PHOTO: The Daimler logo is seen before the Daimler annual shareholder meeting in Berlin, Germany, April 5, 2018. REUTERS/Hannibal Hanschke   -   Copyright  HANNIBAL HANSCHKE(Reuters)
Text size Aa Aa

FRANKFURT (Reuters) – Auto maker Daimler <DAIGn.DE> is in advanced talks to buy a stake in Heycar, a used-car portal set up last year by its bigger German rival Volkswagen <VOWG_p.DE>, the Handelsblatt business daily reported on Wednesday.

The Stuttgart-based luxury carmaker is seeking a 20 percent stake in talks that could culminate in a deal announcement next week, Handelsblatt reported, citing unnamed sources.

Heycar was founded last October and has around 300,000 cars on offer, Handelsblatt said. It competes with German market leader and rival Autoscout.24, which is run by Scout24 <G24n.DE>.

Autoscout, which is present in several European markets, had around 3 million active listings at the middle of the year, of which 1.2 million were in Germany.

Daimler was not immediately available for comment.

(Reporting by Douglas Busvine; editing by David Evans)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on for a limited time.