Chinese major shareholder launches multi-day charm offensive: Li Shufu visiting Daimler, Berlin relaxed

02/25/2018

Chinese major shareholder launches multi-day charm offensive Li Shufu visiting Daimler, Berlin quite relaxed

REUTERS

Largest Daimler shareholder on tour: Geely boss Li Shufu launched a multi-day charm offensive in Stuttgart and Berlin shortly after his entry

Just yet a competitor, today already a major shareholder and guest in Stuttgart: the new Daimler major shareholder Li Shufu is according to information of “Bild am Sonntag” on Sunday and on Monday to visit the car manufacturer in Stuttgart. At Daimler’s headquarters, Li will talk to several leading executives, including chief financial officer Bodo Uebber, the newspaper reported. On Tuesday then discussions are planned in the chancellery in Berlin.

In the Chancellery, Li will meet with the economic adviser of German Chancellor Angela Merkel (CDU), Lars-Hendrick Röller. When visiting Stuttgart, a conversation with Daimler CEO Dieter Zetsche is possible on Monday.

manager magazin already had a conversation between Li and Zetsche at the beginning of February reported on a possible entry, According to the “Süddeutsche Zeitung”, Li “reportedly asked for special conditions during the conversation”, Daimler Show stock market chart I refused.

Li bought a share of almost ten percent in Daimler. Thus, the owner of the Volvo-Geely mother rose to become the largest shareholder of the car maker. Daimler welcomed the entry: Li was a “long-term investor”.

Federal Government sees no need for action – “entrepreneurial decision”

The Federal Government sees no need for action when entering the Chinese investor Li Shufu at Daimler. “The acquisition of 9.7 percent of the share capital in Daimler AG by the Chinese company Geely is known to the federal government,” said a government spokesman on Sunday on request. “It’s an entrepreneurial decision,” he added. “Due to the nature of the investment as a minority interest there is neither external economic nor competition law need for action.”

At the same time, a newspaper report was confirmed that Li would meet with the economic adviser of Chancellor Angela Merkel, Lars-Henrik Röller. One day was not named. The “Picture on Sunday” had called the Tuesday. The meeting in the chancellery is part of a multi-day charm offensive of the Chinese billionaire, wrote the newspaper.

Li is the main owner of the Chinese car maker Geely, which holds nearly ten percent of Daimler, as the Stuttgart company had announced on Friday.

On Saturday, Li had said he was involved in an alliance Daimlerto autonomous driving and electric drives with new competitors like Tesla Show stock market chart To be able to record Google or Uber.

la / dpa / Reuters

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