Daimler (DAI) To Sell Tata Motors (TTM) Stake

By Daniel James Hayden IV
March 08, 2010 9:24 AM

Symbols: C, DAI, TTM

Tags: Citigroup, daimler ag, Tata Motors Ltd

Posted in: News, Rumors, Global, Markets, Movers

There are reports from MarketWatch that German auto manufacturer Daimler AG (NYSE: DAI) will sell its 5.34% stake in Indian auto manufacturer Tata Motors Ltd (NYSE: TTM).

The report cites unnamed sources as saying that Citigroup, Inc. (NYSE: C) is arranging the Daimler AG sale of about $429 million worth of Tata Motors Ltd stock.

After the news broke out, shares of Tata Motors Ltd fell 6% in pre-market trading.

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Daimler (DAI) To Sell Tata Motors (TTM) Stake

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