Daimler considering share in Chinese carmaker
- Germany: Saturday, January 12 - 2013 at 03:07
German carmaker Daimler is eyeing a stake in the passenger car unit of its Chinese partner BAIC Group, as part of efforts to boost its position in the world's largest car market, Reuters has reported, citing three people close to the plans. BAIC is planning a flotation of its BAIC Motor unit and Daimler could take a stake as part of that process, giving it greater exposure to the Chinese market, the sources said. "When BAIC Motor is floated, Daimler may take a stake of 10 to 20%," one of the sources said, adding the size of the stake depended on discussions with its Chinese partner.
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