© Reuters. Seeger, a board member of Daimler AG presents the new Smart concept autonomous car Vision EQ fortwo model during the Frankfurt Motor Show (IAA) in Frankfurt(Reuters) – Daimler AG (DE:) is nearing the sale of a 50 percent stake in its small-car brand Smart to China’s Geely Automobile Holdings Ltd, the Financial Times said on Tuesday, citing three people familiar with the matter.
The sale of the stake in its Smart division will be confirmed before the Shanghai Auto Show in April, FT said https://on.ft.com/2TZuiYJ.
Both Daimler and Geely declined a Reuters request for comment.
Last year, Geely built up an almost 10 percent stake in Daimler in a $9 billion (£6.8 billion) bet by its chairman and became the biggest shareholder in Daimler.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
