Volvo AB (VOLVa.ST)
23 Feb 2018
BEIJING/FRANKFURT Chinese carmaker Geely has built up an almost 10 percent stake in Daimler in a $9 billion (£6.44 billion) bet by its chairman that he can access the Mercedes-Benz owner's technology in the growing battle for the future of automotives.
BEIJING/FRANKFURT Chinese carmaker Geely [GEELY.UL] has built up an almost 10 percent stake in Daimler in a $9 billion bet by its chairman that he can access the Mercedes-Benz owner's technology in the growing battle for the future of automotives.
* Geely plans to meet Daimler execs, German officials (Adds Geely plans to meet Daimler executives, hopes to meet senior German officials; bankers involved in deal)
BEIJING/FRANKFURT The chairman of Chinese carmaker Geely has built up an almost 10 percent stake in Mercedes-Benz owner Daimler , making a $9 billion (£6.4 billion) bet that he can push through an alliance to access the German company's technology.
* SAYS LARS WESTERBERG HAS ANNOUNCED THAT HE WILL NOT BE STANDING FOR RE-ELECTION Source text for Eikon: Further company coverage: (Stockholm Newsroom)
* SAYS BOARD OF DIRECTORS PROPOSES A REGULAR DIVIDEND OF SEK 4.50
STOCKHOLM Swedish truck maker AB Volvo raised its outlook for commercial vehicles markets on both sides of the Atlantic as strong demand across most of its business helped it to produce a 30 percent rise in fourth-quarter core earnings.
* Volvo more upbeat on Europe, N America truck markets in 2018
* CEVIAN CAPITAL COMPLETES THE DIVESTMENT OF ITS ENTIRE SHAREHOLDING IN AB VOLVO
STOCKHOLM China's Geely Holding , owner of the Volvo car brand, is buying an 8.2 percent stake in Swedish truckmaker AB Volvo from activist investor Cevian Capital, worth around $3.3 billion at current market prices.