Future Relationship: Baic and Daimler

future relationship: Daimler said in a regulatory filing on Friday that HSBC held 5.23 percent of Daimler's voting rights directly as well as through instruments such as equity swaps as of November 15, according to Global Times China. BAIC used HSBC to help it build its initial 5 percent stake. Officials at BAIC's Hong Kong-listed company, BAIC Motor Corp, said at investor conferences in mid-October that both sides are willing to increase stakes in the other responding to questions about the future relationship between BAIC Group and Daimler, the sources said. The sources declined to be identified as they are not allowed to speak to the media. While the spokesman would not say whether BAIC played a role in the transaction, he added that Daimler welcomed long-term shareholders such as BAIC that support the carmaker's strategies. A Daimler spokesperson on Monday said, that the company had received notification from HSBC that the voting stake of 5 percent has been exceeded. (news.financializer.com). As reported in the news.