January 11, 2019 / 8:36 AM / 12 days ago

Geely cuts its Daimler stake by more than half - Bloomberg

Jan 11 (Reuters) - Chinese billionaire Li Shufu's Geely Group cut its 9.7 percent stake in carmaker Daimler AG by more than half, Bloomberg reported bloom.bg/2ChAz68 on Friday, citing people familiar with the matter.

Li had taken a 9.69 percent stake in Daimler in 2018.

Daimler declined to comment on the report. (Reporting by Ishita Chigilli Palli in Bengaluru; Editing by Shounak Dasgupta)

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