CIC not in talks to buy Daimler stake: report
LONDON (MarketWatch) — China’s sovereign-wealth fund China Investment Corp. is not looking to buy a stake in German car maker Daimler AG , the Wall Street Journal reported on Monday, contrary to media reports out over the weekend. Chinese media said CIC was looking to buy a 4% to 10% stake in Daimler, but the reports were denied by one of the people familiar with the matter, according to the Journal. Shares of Daimler traded 0.8% higher at 42.99 euros (.68) in Frankfurt, down from an intra-day high of 43.64 euros. A representative from Daimler said the firm never comments on media speculation, but that it “always welcomes any new investors as a balanced shareholder structure is in the interest of Daimler.”
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