GERMANY: Share price doesn't faze Daimler CFO
Daimler finance chief Bodo Uebber has said he is unconcerned that a low share price could expose the automaker to hostile takeover offers.
"First someone would have to come who can explain how he can do a better job than we can," he told Frankfurter Allgemeine Zeitung, according to Reuters.
"Refinancing such a takeover would also not be easy: loans are not available or are very expensive."
Daimler, which only has the emirate of Kuwait as a large shareholder with 7.6% of the stock, has a market capitalisation of close to EUR27bn (US$34.80 bn), according to the report.
Shares closed on Thursday down 9.8 % at EUR24.94. It was EUR24.87 when this story was published on Friday morning.
Uebber also responded to recent comments the premier of the state of Baden-Wuerttemberg, Guenther Oettinger, made in a newspaper interview about Daimler's home state buying an indirect stake in the company.
"We have neither been in talks with the state, nor with the federal government, nor with the landesbanks," he said, referring to the German state-owned regional lenders like LBBW.
According to Reuters, the Daimler CFO also said that there were no activist shareholders that were demanding the company resume its share buy-back programme, now frozen in light of the credit crisis.