China Wants Its Share Of Daimler
Three years ago, we reported that the Chinese government was interested in buying some of Daimler’s stock. Now, it looks like it might be finally happening.
Based on Chinese state media reports, Reuters says that China’s sovereign wealth fund is zeroing in on buying a stake in Daimler.
People’s Daily wrote that China Investment Corp was interested in buying between 4 and 10 percent of Daimler.
Daimler did not comment.
If it happens, China would replace Abu Dhabi’s sovereign wealth fund Aabar. In October, the emirate sold a remaining 3.07 percent stake in Daimler.
Bertel Schmitt comes back to journalism after taking a 35 year break in advertising and marketing. He ran and owned advertising agencies in Duesseldorf, Germany, and New York City. Volkswagen A.G. was Bertel's most important corporate account. Schmitt's advertising and marketing career touched many corners of the industry with a special focus on automotive products and services. Since 2004, he lives in Japan and China with his wife <a href="http://www.tomokoandbertel.com"> Tomoko </a>. Bertel Schmitt is a founding board member of the <a href="http://www.offshoresuperseries.com"> Offshore Super Series </a>, an American offshore powerboat racing organization. He is co-owner of the racing team Typhoon.
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Why Daimler? They think they can improve it, mold it into a Proud Investment?
China needs to recycle their currency and investing in large companies is smarter than buying US treasuries.