April 25, 2018 / 4:15 AM / a year ago

AUTOSHOW-Daimler CEO says no signs of hostile takeover by Chinese car magnate Li Shufu

BEIJING, April 25 (Reuters) - German car maker Daimler AG’s boss said on Wednesday there was no indication the firm’s largest shareholder, Chinese auto magnate Li Shufu, was planning a hostile takeover, after he took a $9 billion stake in the firm earlier this year.

Dieter Zetsche, Daimler’s chief executive, said Li, the head of Chinese carmaker Geely, had told the firm he had no intention to go beyond his near 10 percent current stake in Daimler, which he had amassed quietly before announcing it in February.

Daimler’s CEO was speaking at a round table event at the auto show in Beijing. (Reporting by Ilona Wissenbach; Writing by Adam Jourdan; Editing by Muralikumar Anantharaman)

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