Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Daimler nears deal to sell half its Smart unit to China's Geely: FT

Published 03/26/2019, 03:18 PM
Updated 03/26/2019, 03:20 PM
© Reuters. FILE PHOTO: Paris Auto Show

(Reuters) - Daimler AG (DE:DAIGn) 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.

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 bet by its chairman and became the biggest shareholder in Daimler.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.