Geely chief amasses $9 billion stake in Germanys Daimler

Li Shufu, the chairman and main owner of Chinese carmaker Geely, has amassed a stake of 9.69 percent in Daimler AG, the German carmaker said in a regulatory filing on Friday.

The stake, worth nearly $9 billion at the current market price for Daimler shares, makes Li the biggest single shareholder in the maker of Mercedes Benz cars, trucks and vans headquartered in the German city of Stuttgart.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)