Daimler Declines Geely Offer to Buy Up to 5% Stake via New Share Issue -Reuters

11/29/17 04:27 AM EST

--Daimler AG (DAI.XE) has declined an offer from Zhejiang Geely Holding Group to buy a stake of between 3% and 5% in the German car maker, according to a Reuters report, citing people with knowledge of the matter.

--China's Geely offered to buy a stake in the car maker under the condition that Daimler issues new shares at a discount, Reuters reported.

--At Geely's request, the two companies held talks in Bejing, in recent weeks, Reuters said.

--Daimler told Geely it was welcome to buy shares in the open market, according to Reuters.

 

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November 29, 2017 04:27 ET (09:27 GMT)

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