Report: Daimler dumping stake in Tata Motors
AN quotes Juergen Pieper at Metzler Equities as saying “we certainly now have as a priority turning around the mature markets and then China. This is certainly now a higher priority for Daimler than India.” And while Daimler is selling, it appears that Tata isn’t buying, stating that its collection of companies isn’t interested in purchasing the shares. Daimler is looking to sell the stocks on the open market in block deals, which moves large amounts of stock at once.
Daimler’s break from Tata will be likely be a clean one considering the two companies reportedly don’t have any joint ventures or collaborative projects in the pipeline. Analysts reportedly don’t foresee Daimler’s sale of Tata shares affecting the Indian automaker’s stock price.