Daimler prepares a listing of trucks business

German luxury automaker Daimler is preparing a stock market listing of its trucks division, business newspaper Handelsblatt reported, by mentioning company sources.

The unit could be floated at the end of the next year, the sources said, adding division head Martin Daum is likely to get an early extension of his contract by three years as part of the strategies.

Daimler was not immediately available for discussion.

Rival Volkswagen in 2019 listed its trucks unit Traton to put the business on an independent footing.