Reuters exclusively reports Chinese group seeks to buy up to 5% of Daimler

Reuters reported exclusively that China’s BAIC Group is seeking to buy a stake of up to 5% in Daimler as a way to secure its investment in Chinese Mercedes-Benz manufacturing company Beijing Benz Automotive. BAIC informed Daimler of its intention to buy a 4-5% stake earlier this year and has asked local authorities in Beijing to support the purchase. BAIC has started acquiring Daimler shares on the open market.