Daimler shares rise on talk of China stake

Shares in Daimler, the German luxury car and truckmaker, jumped on Monday after a report that China’s sovereign wealth fund might buy a stake but then fell back after a denial.

A source close to the situation told the Financial Times that China Investment Corporation was not in talks with Daimler.

The People’s Daily reported on its website that CIC was likely to acquire 4-10 per cent of Daimler, which would cost about €1.8bn-€4.5bn at the current market value.