Frankfurt/Beijing — Chinese car maker Geely has bought shares in German car and truck maker Daimler, two people familiar with the matter said, as the Chinese owner of Volvo cars seeks to strike an alliance that involves electric-car technology. The size of the stake is unclear but likely to be below 3%, as that level would require Geely to make a regulatory disclosure in Germany. It was also unclear whether Geely, which owns London taxi manufacturer LEVC as well as stakes in Volvo trucks and Lotus sports cars, had sought to buy more Daimler shares. In November, sources said that Daimler, the parent company of Mercedes-Benz, had turned down an offer from Geely to take a stake of up to 5% via a discounted share placement. At the time, Daimler declined to issue new shares because it did not want to see existing stockholders diluted, sources with knowledge of the talks said. Now sources say Geely has decided to build a stake by buying existing shares. "Geely has opted mainly to show the...
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