Geely Still Looking To Buy A Stake In Daimler

Chinese automaker Geely still intends on purchasing a stake from Daimler, despite its initial offer being rejected by the German automaker.

According to local publication The Global Times, Geely intends on investing roughly 4 billion euros ($4.73 billion) to acquire a 3 to 5 per cent stake in Daimler. If the investment is approved, Geely will become the third-largest shareholder of Daimler.

Three weeks ago, it emerged that Daimler had rejected Geely’s bid to purchase a 5 per cent stake through a discounted share placement. At the time, Daimler said it would welcome an investment from the carmaker if it purchased shares in the open market.

Daimler already has joint ventures with Chinese carmakers BAIC Motor Corp and BYD while Geely has a controlling stake in Volvo and Lotus.

PHOTO GALLERY

  • Craig

    I’m not sure how things like this work. Could Mark Zuckerberg [for example] own a majority of Daimler tomorrow IF he wanted to? Or could that never happen unless Daimler approves the sale of that many shares – to HIM? Or are only so many shares out there for someone to buy – so it doesn’t matter how rich they are?

    • In simple economics, all the shares already has owners and the only way that someone wants to get share is by offering whoever has share some money in hope that they give it to the bidder.

      This is different than public offering in stock market, that one is free for anyone as long they had money.

      • Craig

        I appreciate you taking the time to answer my question. Thank you!

  • Bernardo

    … that looks a “Renault Espace” a lot ! ?

    • alexxx

      More Like a Peugeot to me….

  • Bernardo

    … that looks like a ‘Renault Espace’ , alot !! ??

  • YUGE

    GEELY is CHINKY JUNK

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