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Daimler raises prospect of boosting stake in Chinese partner - Bloomberg

Daimler raises prospect of boosting stake in Chinese partner - Bloomberg
FILE PHOTO: The Daimler is seen during a press conference on the second press day of the Paris auto show, in Paris, France, October 3, 2018. REUTERS/Regis Duvignau/File Photo -
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Regis Duvignau(Reuters)
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(Reuters) – Germany’s Daimler AG <DAIGn.DE> has raised the prospect of increasing its stake in a joint venture with Chinese partner BAIC Motor Corp <1958.HK>, Bloomberg reported on Tuesday, citing people familiar with the matter.

Daimler has shown an interest in raising its holding in the JV to at least 65 percent from 49 percent, according to the report.

The discussions with BAIC at this stage are exploratory, the report added.

Daimler told Reuters that the company does not comment on speculations, but said was satisfied with its successful set-up in China and its partnerships.

(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Shinjini Ganguli)

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