China's Geely denies Bloomberg report, says has not sold shares in Daimler

China's Geely denies Bloomberg report, says has not sold shares in Daimler

FILE PHOTO: Geely automobile maker logo at the IEEV New Energy Vehicles Exhibition in Beijing
The emblem of the Geely automobile maker logo is seen at the IEEV New Energy Vehicles Exhibition in Beijing, China, Oct 18, 2018. (Photo: Reuters/Thomas Peter)

BEIJING: Zhejiang Geely Holding Group said on Friday (Jan 11) that the company has not sold any shares in German carmaker Daimler AG , denying a Bloomberg report which said the Chinese firm had cut its 9.7 per cent stake by more than half.

"As a long-term investor, Zhejiang Geely Holding has not sold any shares. The Daimler shareholding remains unchanged," a Hangzhou-based spokesman for Geely told Reuters.

Bloomberg reported that Chinese billionaire Li Shufu's Geely had cut its Daimler stake on Friday, citing people familiar with the matter.

Source: Reuters/zl

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