BMW’s largest shareholder, the Quandt family, has denied speculative reports that it is considering taking a share in DaimlerChrysler.
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Spokesman Jörg Appelhans, speaking for the family, told the Handelsblatt newspaper that “there is absolutely nothing in it.”
BMW chief executive Norbert Reithofer recently said that he can imagine cooperating with Mercedes, and this has led to speculation in financial markets about a possible cross-shareholding between Daimler and BMW, or the Quandts investing in Daimler. Daimler shares have risen as a result.
Daimler and BMW are currently developing hybrid drivetrains together. Reithofer told Auto Motor und Aport magazine that he believes that the company should enter into more strategic alliances.
He said he could imagine cooperating with Daimler in the area of engine development, although each company would have to ensure that its engines had distinctive characteristics. Reithofer said had not yet held direct discussions with Daimler CEO Dieter Zetsche.
He added that any cooperation would not take the form of a strategic alliance. “I do not think that strategic alliances are right for the BMW Group,” he said. He said: “We must, however, remain open to cooperations where two companies could benefit from cooperating – a win-win situation.”
