Daimler AG : CIC Not in Discussions To Buy Daimler Stake
01/07/2013| 03:26pm US/Eastern
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BEIJING--China Investment Corp. isn't in discussions to buy a stake in German auto maker Daimler AG, according to people with direct knowledge of the matter.
Citing weekend Chinese media reports, China's People's Daily Online website said on Monday that the Chinese sovereign wealth fund was about to buy a 4% to 10% stake in Daimler. Daimler shares were up 1.9% on Monday morning in Frankfurt.
One of the people with knowledge of the matter said CIC "isn't in talks" to buy a Daimler stake.
An article on Germany daily Boersen-Zeitung's website last week, citing an interview with Chief Executive Dieter Zetsche, said Daimler would welcome more long-term investors in the company's stock, including those from China.
Write to Lingling Wei at Lingling.Wei@wsj.com
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