Daimler not interested in Opel, Volvo or Saab -exec

Tue Feb 24, 2009 4:56pm GMT
 
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FRANKFURT, Feb 24 (Reuters) - Daimler (DAIGn.DE) reaffirmed its position that the maker of luxury Mercedes-Benz cars has no interest in acquiring other brands such as GM's GM.N Opel, which could immediately give it a sizeable share of the small car market.

"A takeover of Opel is not on the agenda. That also goes for Volvo or Saab," Daimler management board member Thomas Weber told Reuters.

Just as GM is looking for new investors for its European brands Opel and Saab, Ford (F.N) is also shopping around its Volvo Car marque.

Bernstein Research analyst Max Warburton wrote in a report published Tuesday that Daimler may look to acquire Opel in order to gain scale and expertise in the compact and subcompact segments where he estimates the A-Class and Smart have cost Daimler a combined 7 billion euros ($8.97 billion) in losses.

(Reporting by Christiaan Hetzner and Hendrik Sackmann)

 

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