Daimler CEO says there are no plans to pursue a merger or spin-off

Madiha Shakeel July 24, 2019

FRANKFURT: Daimler has no plans to spin off its trucks division or to pursue a merger with BMW as a way to raise the company’s share price, Chief Executive Ola Kaellenius said on Wednesday.

“There are no plans to change the capital structure of Daimler,” Kaellenius told analysts on a call to discuss second-quarter results.

Kaellenius further said Daimler was not considering deeper ties with rival BMW which involved a cross shareholding or deal.

“There are no plans to combine with BMW in any way,” Kaellenius said.

Copyright Reuters, 2019

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