China’s wealth fund to buy Daimler stake: reports
HONG KONG (MarketWatch) — China’s sovereign-wealth fund is planning to become a shareholder in German car maker Daimler AG , purchasing a 4% to 10% stake in the parent of Mercedes-Benz and other brands, according to Chinese press reports. China Investment Corp. has not confirmed plans to acquire the stake, which was reported by the mainland China automotive industry press, citing “informed sources.” Japanese brokerage Nomura said in a research note on Monday that the reputed stake purchase by CIC is not a major surprise, as rumors of the potential deal circulated early in 2012. Nomura cited Daimler Chief Executive Dieter Zetsche as saying in 2011 that the company was seeking China investors.
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