Geely Automobile Holdings Limited (SEHK:175) has denied the reports of sale of more than half its stake in Daimler AG (XTRA:DAI). Geely said there were no changes to its holding in Daimler, refuting a Bloomberg report saying it had cut its 9.7% stake in Daimler by more than half. "As a long-term investor, Zhejiang Geely Holding has not sold any shares.

The Daimler shareholding remains unchanged," Geely said in a statement January 11, 2019. The statement came after Bloomberg said Geely, controlled by Li Shufu, had sold a 5.4% stake in Daimler.