China Wants Its Share Of Daimler
January 7th, 2013 10:54 AM
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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.
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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.