China’s Geely denies Bloomberg report, says has not sold shares in Daimler

FILE PHOTO: The emblem of the Geely automobile maker logo is seen at the IEEV New Energy Vehicles Exhibition in Beijing, China October 18, 2018. Picture taken October 18, 2018. REUTERS/Thomas Peter/File Photo

BEIJING/SHANGHAI (Reuters) – Zhejiang Geely Holding Group said on Friday that the company has not sold any shares in German carmaker Daimler AG (DAIGn.DE), denying a Bloomberg report which said the Chinese firm had cut its 9.7 percent stake 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.

Bloomberg reported that Chinese billionaire Li Shufu’s Geely had cut its Daimler stake on Friday, citing people familiar with the matter.

Reporting by Yilei Sun in Beijing and Brenda Goh in Shanghai; Editing by Himani Sarkar

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