--BAIC Motor, Daimler's main Chinese joint-venture partner, has initiated a plan to double its stake to around 10% and win a board seat in the German luxury car maker, Reuters reported Sunday, citing unnamed sources.

--State-owned BAIC, currently Daimler's third-largest shareholder, has started buying the German company's shares from the open market, a move aimed to surpass its Chinese rival Zhejiang Geely Holding Group, which owns 9.69% of the German auto maker, Reuters reported.

Full story: https://reut.rs/36DsQwL

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(END) Dow Jones Newswires

December 15, 2019 22:34 ET (03:34 GMT)

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