INTERNATIONAL - China’s Geely Group said it has not sold any shares in Daimler AG, denying a Bloomberg report that the Chinese firm had slashed its 9.7 percent stake in the German carmaker 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 on Friday.
Bloomberg reported that Chinese billionaire Li Shufu’s Geely had sold a 5.4 percent stake, citing people familiar with the matter, but that the new owners of the shares were not known.
The report comes as Morgan Stanley disclosed in a filing on Thursday that it had increased its Daimler stake to 5.39 percent from 0.34 percent on Jan. 4. According to Bloomberg, Morgan Stanley is holding the shares on behalf of others.
Daimler and Morgan Stanley declined to comment on the Bloomberg report.