Geely, the Chinese owner of Volvo Cars, has acquired a USD 9.2 billion stake in Germany’s Daimler. Geely has being building up a holding of just under 10% through purchases of Daimler’s shares in recent weeks.
Dagens Industri (DI) has reported that Geely chair Li Shufu and Industrivärden’s Fredrik Lundberg, as well as CEO Helena Stjernholm, met on Friday to discuss future development of truckmaker AB Volvo. According to the business daily, AB Volvo’s chair and CEO also met Li Shufu on Friday. DI speculates that one of the topics of conversation likely concerned future cooperation between AB Volvo and Volvo Cars.
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