Chinese group Geely is attempting to purchase a stake in Daimler for the second time, according to reports.
The Global Times of China says Geely is seeking to buy a three to five percent stake in German multinational Daimler, which owns the Mercedes-Benz and Smart brands.
According to the report, the proposed investment would total about €4-billion and make Geely – which already owns Swedish automaker Volvo Cars and has a controlling stake in Lotus – the third-largest shareholder in Daimler, leapfrogging the Renault-Nissan-Mitsubishi Alliance, which owns some 3,1 percent.
The Global Times of China report says Geely made a direct offer to buy newly issued shares in Daimler in November, but the Stuttgart-based firm rejected it, suggesting the Chinese company instead purchase stock on the open market.
Ryan has spent most of his career in online media, writing about everything from sport to politics and other forms of crime. But his true passion – reignited by a 1971 Austin Mini Mk3 still tucked lifeless in a dark corner of his garage – is of the automotive variety.