Geely cuts its Daimler stake by more than half: Bloomberg

Reuters

Published Jan 11, 2019 03:39AM ET

Geely cuts its Daimler stake by more than half: Bloomberg

(Reuters) - Chinese billionaire Li Shufu's Geely Group cut its 9.7 percent stake in carmaker Daimler AG (DE:DAIGn) by more than half, Bloomberg reported on Friday, citing people familiar with the matter.

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