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

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The emblem of the Geely automobile maker logo is seen at the IEEV New Energy Vehicles Exhibition in Beijing, China, Oct 18, 2018. (Photo: Reuters/Thomas Peter)
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BEIJING: Zhejiang Geely Holding Group said on Friday (Jan 11) that the company has not sold any shares in German carmaker Daimler AG , denying a Bloomberg report which said the Chinese firm had cut its 9.7 per cent 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.

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