Daimler turns down China's Geely offer to buy stake; Geely still hopeful

Daimler turns down China's Geely offer to buy stake; Geely still hopeful

Photo: Reuters

Daimler AG has turned down an offer from China’s Geely to take a stake of up to 5 percent via a discounted share placement, as the German automaker has long been reluctant to see existing shareholdings diluted, sources with knowledge of the talks said.

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