Dr. Dieter Zetsche, Vorsitzender des Vorstands der Daimler AG und Leiter Mercedes-Benz Cars im Generation EQ ;
Dr. Dieter Zetsche, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars in the Generation EQ;
Daimler has plans in place for its own protection, should there be any unsolicited takeover from its Chinese investor, according to Automotive News Europe. Founder of Geely and owner of Volvo Cars Li Shufu acquired 9.7% of Daimler worth 7.3 billion euros in February this year, and was reported shortly after to have to no further plans for share purchases.
Naturally, to have a party outside the Daimler group as the largest single shareholder is cause for the group’s concern for itself. Daimler reportedly turned down an offer from Geely for a 5% stake in November 2017 as it did not want its existing stocks diluted. Li likely acquired the Daimler shares from the open market.
“We have dealt with such a theoretical takeover scenario and prepared ourselves, but there’s no reason whatsoever to think about that in this relation. Of course, we have general plans – general – for such a situation, which we typically don’t announce, because then they already lose half of their effectiveness. But it’s clear that this is totally independent of this case,” said Daimler CEO Dieter Zetsche.
Zetsche was reported as saying he was ‘totally fine’ with the current stake holding, and the Daimler CEO had not asked Li for any guarantees against untoward stake movements. Talks with Li have continued over the Geely chairman’s wish for a collaboration, but these have not progressed beyond a simple exchange of views, the report said.
“Nothing is specific, even less so has anything been decided. We are not even in the position to really define the areas of investigation, but it’s early stages so that’s totally normal. It’s very amicable and very constructive,” Zetsche noted of the dialogue with Li.
The Geely chairman told Bloomberg that he did not need to form synergies with Daimler and his companies for his investment to pay off, suggesting that he would be perfectly happy to receive dividends like any other shareholder.
Automotive News Europe makes a reference to the Porsche-Volkswagen stakeholding relationship from 2005, when the former announced its plans to acquire a 20% stake in the Wolfsburg brand. Porsche continued to build its share acquisition quietly, and attempted a leveraged buyout of the former, financed by VW’s own cash reserves.
Labour unions and the state of Lower Saxony stopped proceedings amidst fears of job losses, and both parties struck a deal which saw Porsche remain as the VW Group’s largest shareholder, in exchange for the dismissal of Porsche’s then-CEO Wendelin Wiedeking and CFO Holger Haerter.
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Quite sad, you said before 9% shareholding by Geely give them the right to takeover and make decisions in the Board.
Learn Company law. If 91% don’t agree, how is 9% going to make decisions?
Just let them Syok sendri. Heh3
I rememeber john kept on saying Geely has now full control of Daimler being Daimler largest shareholder…..ha ha ha
Tak faham company law tapi nak merepek…..
This guy, just like all his kind, does not understand business and how a company works
Local Mara or Uitm teach students 9% shareholding can already change board of directors
Can even change Mercedes tristar logo to Proton logo or Geely logo
Can, if 9 is the biggest share by a shareholder, others only have lesser than 9.
Hahahaha!
Ade hati nk tumpang glamour… phuuuii!
China doing all the hard work but Proton and their fanboys tumpang glamour
meanwhile MY sold to China 1st.. so MY win jerman.
Proton tak buat apa apa kerja. Semua kerja Geely dan China buat. Tapi Proton tumpang glamour dan fame.
Cannot trust China company. Same like Baby Milk. If they can poison babies with their tainted baby milk, you cannot trust China company.
Local GLC DRB just going to repeat another Parameswara and Zaman Melaka. Penjajah will come and give sweet stories, then, take over the whole company eventually
Can Paul Tan do something about fake likes. We must make an endeavor to put a stop to fake likes in our beloved site.
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tak habis2 like sendiri sampai 1200x
So shy, your posting has 1000 over likes. Pretty obvious you are doing it. And tokmoh too.
Dah kalah lepas tu balik complain kat mak lettew. Kecian kecian…
We must ban people who do fake likes in this site.
Tak masuk akal…..1274 likes.
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Our Government lack brains. It needs foreigners to help
john, tolong ambik ubat ye?
Paul Tan must have user ID which allows one user to vote one time. Otherwise there will be abuse like 1213 likes
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john jangan bangga main refresh page ya
We now know who are the ones doing fake likes in this blog. Pretty obvious in this post. 1000 over likes. Attention seekers
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P1 should work hard like the Japanese and P2. Should not sleep during work hours
Takeover by a Chinese brand is seen as an insult, degrading and tarnishing. Unless the company is in deep trouble like Proton, reputable brands will take necessary action against it.
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Daimler action is just delaying the inevitable. Cash is king.
They said Geely cannot buy 5% so Geely went and buy 9.7% instead.
Now they said Geely cannot do takeover? HAHAHAHA!
Friend, you don’t know how shares work right? They wanted to purchase an outright stake of 5% from Daimler but was denied. When that happened they, they had all their people to buy small amounts and eventually sold it to Li Shufu, which upon consolidation had an amount of 9.7% stake.
This can be done towards any public listed company, even Berjaya was in a similar situation when they first started.
Btw, people know when you like yourself this number of times
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I think you just blew your cover away. We see your dupes and your likes here. Pls respect this blog. We are all matured readers here. We don’t need jaguh kampung trolling here
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Typical john, after kena kantoi and caught for his 1200 likes, now blame the world…albert lah, kunta la, samy la.
Stop your childish ways john
Fake likers. Same like us, phantom voters :D
same like phantom voters, here also got fake dupes and fake 1000 likes
Ha ha. Geely is so sneaky. Daimler refused to sell the 5%, Geely went behind Daimler’s back and bought even more shares in the open market.
This will happen to Proton one day. One day, the 51% held by DRB also will fall into Geely hands as Geely is clever at doing things behind people’s back
There goes a Malaysian company.
Proton will be 100% full China country. No more National car maker
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Proton supporters have been saying that for 30 yrs. Does what you say matters?
now Proton supporters are saying they have full control of Daimler also….ha ha ha
One day we will lose Proton to China fully. Then we will realise, about RM30 billion was spent the past 20 years to bail the company out all went down the drain.
Also, the past 30 years, all other car prices went up because of Proton. Malaysians spent over RM300 billion in extra to buy other car makes that had inflated car prices because of protectionism towards Proton.
All wasted money
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Hahahahahahaha Richard Tido kantoi replied to himself, well done John!
john, you and your dupe just made a fool of yourself….is it an offence to reply?
Can you read clearly who I replied to?
I think john has lost it. Mental problems. Have you taken your meds john?
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We must ban all the fake dupes and fake likes in this site. Let us keep PT clean
1200 likes in one comment is suspicious
malaysians wanted proton dead, so what..
Only you time waster
I hope it happens unfortunately P1 is not a listed company.
With 51% stake + board control then only P1 will progress cos at the moment everything goes through DRB. :(
This will happen to P2/jepunis companies too, but it is good coz it is so eyesoring to see those ugly jepunis cars on road
“SS Bodykits” which Proton think is special are more eyesore
Bodykits on P1 looks good, on Toyota it look stoo ahbeng likes trying too hard
Yup 7.3 billion euros is one hell of a big amount, but considering it a long term dividens for Geely group plus sending disruptive message to their mainland China auto rivals just shows how competitive Li is. Truly impressive. I’ve a newfound respest for this guy.
respek org China dan Geely. Kerja kuat, tekun dan rajin. Budak Proton mesti belajar dari dari rakyat China
maybe geely can turn mercedes back to its glory days of reliable cars again.
Hahaha. Mesti tak tenang tidur malam board directors daimler
Does anyone notice that the guy looks like an older version of our PM?