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Business deals

China's Geely becomes top shareholder in Mercedes owner Daimler

$9bn investment aims to generate synergies in luxury and commercial vehicles

Chairman Li Shufu of Zhejiang Geely Holding Group   © Reuters

FRANKFURT -- China's Zhejiang Geely Holding Group is now the top shareholder in German automaker Daimler, the parent of Mercedes Benz, with a 9.69% stake, adding another European auto asset to its growing portfolio.

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