February 28, 2018 / 2:15 PM / a year ago

Geely chairman not seeking Daimler board seat: Bild am Sonntag

FILE PHOTO: Li Shufu, founder and chairman of Zhejiang Geely Holding Group, attends the Volvo's S90 news conference in Shanghai, China November 2, 2016. REUTERS/Aly Song/Files

FRANKFURT (Reuters) - Li Shufu, the founder and main owner of China’s Geely [GEELY.UL], is not seeking influence over Daimler’s (DAIGn.DE) strategy via representation on its board after building up a stake of almost 10 percent in the German carmaker, according to a newspaper interview.

“I respect the values and culture of Daimler. I have never asked for a seat on the supervisory board, and that doesn’t have any priority for me,” German weekly Bild am Sonntag quoted Li as saying in an interview.

Geely’s purchase of a $9 billion stake in the maker of Mercedes-Benz cars has rekindled fears in Germany of its highly-prized expertise falling into Chinese hands.

Reporting by Maria Sheahan; Editing by Arno Schuetze

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