No discussion of sale of stake in China BMW joint venture - Shenyang document

Reuters01-18

BERLIN, Jan 18 (Reuters) - BMW's partner in China has no plans to sell its stake in their joint venture, a document seen by Reuters on Thursday showed, contradicting media reports earlier this week.

"Our company and Brilliance China have never talked about the sale of Brilliance China's 25% stake in BMW Brilliance Automotive," said the letter from Shenyang Automotive Company to BMW dated Jan. 16.

"Therefore, the information published by some domestic and foreign media is false," it added.

Bloomberg News reported on Monday that Brilliance China's biggest shareholder was considering options to raise funds, including selling the investment company's 25% stake in the joint venture with BMW.

(Reporting by Reporting by Christina Amann Writing by Madeline Chambers Editing by Sabine Wollrab and Miranda Murray)

((Madeline.Chambers@thomsonreuters.com; +4930220133578;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment