Mercedes-Benz Open to Trimming Daimler Truck Stake if Practical, CFO Says -- Market Talk

Dow Jones02-22

1227 GMT - Mercedes-Benz is open to gradually reducing shares in Daimler Truck after 2024 to support cash flow if it makes sense in the context of a new shareholder returns policy, CFO Harald Wilhelm says, adding however that the German luxury-car maker has no firm plan to do so. Mercedes has long wanted to be an important stakeholder in the commercial-vehicle maker, but not a strategic one, Wilhelm says during a post-earnings conference with reporters, noting that from this angle its purpose has been served. Still, Mercedes, which owns a 30% minority stake in Daimler, is committed at least through 2024 and has no plan to divest; it is simply a possibility if needed to deliver on a new dividend and buyback policy, the CFO says. Mercedes shares in Germany rise 5.7% to EUR71.92. (david.sachs@wsj.com)

(END) Dow Jones Newswires

February 22, 2024 07:27 ET (12:27 GMT)

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Mercedes has long wanted to be an important stakeholder in the commercial-vehicle maker, but not a strategic one, Wilhelm says during a post-earnings conference with reporters, noting that from this angle its purpose has been served. Still, Mercedes, which owns a 30% minority stake in Daimler, is committed at least through 2024 and has no plan to divest; it is simply a possibility if needed to deliver on a new dividend and buyback policy, the CFO says. Mercedes shares in Germany rise 5.7% to EUR71.92. 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Mercedes has long wanted to be an important stakeholder in the commercial-vehicle maker, but not a strategic one, Wilhelm says during a post-earnings conference with reporters, noting that from this angle its purpose has been served. Still, Mercedes, which owns a 30% minority stake in Daimler, is committed at least through 2024 and has no plan to divest; it is simply a possibility if needed to deliver on a new dividend and buyback policy, the CFO says. Mercedes shares in Germany rise 5.7% to EUR71.92. 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