Geely chairman not looking for Daimler board seat

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Li Shufu, the founder and main owner of China’s Geely, is not seeking impact over Daimler’s strategy through representation on its board after building up a stake of nearly 10 percent in the German automaker, 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 importance for me,” German weekly Bild am Sonntag quoted the founder as saying in an interview.

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

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