Germany closely monitoring Chinese shareholdings in Daimler

Germany is closely monitoring developments at Daimler (DAIGn.DE) after a second Chinese company moved to take a big stake in the maker of Mercedes-Benz cars, an economy ministry official said on Thursday.

Reuters reported on Sunday that Daimler’s main Chinese joint venture partner BAIC planned to double its stake to around 10% in order to upstage rival Chinese automaker Geely, which owns 9.69% of the German company.