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Reuters
Reuters
Business

Merkel - no sign of violations in Geely purchase of Daimler stake

German Chancellor Angela Merkel addresses a news conference at the chancellery in Berlin, Germany, February 27, 2018. REUTERS/Hannibal Hanschke

BERLIN (Reuters) - Germany is open towards its trading partners and at a first look, there are no obvious violations linked to Geely's <0175.HK> acquisition of a $9 billion stake in Daimler <DAIGn.DE>, Chancellor Angela Merkel said on Tuesday.

"We are open to our trading partners and at a first look there are no violations in this regard," she told reporters.

She added that there were questions about possible holes in transparency around disclosure requirements but that was a matter for BaFin financial sector regulator.

FILE PHOTO: The Geely logo is shown at the Chinese automaker's display during the media preview at the 2008 North American International Auto Show in Detroit January 15, 2008. REUTERS/Mike Cassese/File Photo

"Our aim is to keep a sustainable car industry in Germany - that is our political, strategic aim."

(Reporting by Madeline Chambers; Editing by Thomas Escritt)

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