DECEMBER 30, 2000
Deutsche Bank to sell DaimlerChrysler stake
DEUTSCHE BANK, the biggest shareholder in the DaimlerChrysler empire with 12% of the company, says it is going to sell its shares in the German-US car company but this will not happen until the share price improves.
Breuer also said that he supported the Daimler-Benz takeover of Chrysler, arguing that it makes sense in the highly competitive car markets.
The decision to sell industrial shareholdings comes as a result of tax breaks which will be available in 2002 which will mean it will be much easier and cheaper for German companies to divest themselves of shareholdings in other firms.