Mercedes-Benz CEO Rules Out Chinese Hostile Take Over

On Wednesday, Ola Kaellenius, Mercedes-Benz CEO, ruled out the possibility of two major Chinese shareholders raising their stakes in the company and, as a result, creating a blocking minority, Reuters reported.

Both state-owned Beijing Automobile Group Co Ltd (BAIC) and Geely founder Eric Li (Li Shufu) each hold a 10% stake in the German automaker. In an interview with the CEO, German daily Handelsblatt posed a question of whether the company was worried the two major Chinese stakeholders had enough stakes to prevent other companies from buying or controlling it.
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