Zhejiang Geely Holding Group said on Friday that the company has not sold any shares in German carmaker Daimler AG. REUTERS File photo

BEIJING/SHANGHAI: Zhejiang Geely Holding Group said on Friday that the company has not sold any shares in German carmaker Daimler AG, denying a Bloomberg report which said the Chinese firm had cut its 9.7 per cent stake by more than half.

“As a long-term investor, Zhejiang Geely Holding has not sold any shares. The Daimler shareholding remains unchanged,” a Hangzhou-based spokesman for Geely told Reuters.

Bloomberg reported https://bloom.bg/2ChAz68 that Chinese billionaire Li Shufu’s Geely had cut its Daimler stake on Friday, citing people familiar with the matter. — REUTERS

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