Geely Boss Buys 10 Percent Of Daimler
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2018-02-24 HKT 04:14
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Chinese billionaire Li Shufu has bought a near 10 percent stake in Daimler, making him the German group's largest single shareholder, a stock market filing showes.
Li, who chairs auto giant Geely Automobile, bought a 9.69 percent stake in the carmaker, worth around 7.2 billion euros (HK$69 billion), according to the filing.
German business media have for weeks reported Li and Geely's interest in Daimler. But Friday is the first time Li's stake has crossed the threshold of 3 percent of stock, requiring a public notification.
Geely itself is no stranger to the European car business, having bought Sweden's Volvo in 2010.
It also owns British sports car manufacturer Lotus and the firm which makes London's world-famous black cabs. (AFP)
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