Daimler CFO rejects takeover speculation

Dow Jones Newswires (Frankfurt) - Daimler AG (DAI.XE) Chief Financial Officer Bodo Uebber remained tight-lipped Friday about a possible exit of the German auto maker's largest single shareholder and insisted the company isn't a takeover candidate.

"We are a healthy company with a balanced shareholder structure," Uebber told reporters during a telephone conference.

He said Daimler was talking to potential investors across the globe at roadshows as part of a normal routine, but he dismissed the Stuttgart-based firm was actively searching for a new anchor shareholder.

German monthly Manager Magazin reported last week that Daimler's largest shareholder, Abu Dhabi's sovereign-wealth fund Aabar Investments PJS, plans to sell its stake though Daimler said it hasn't held any talks with the emirate about a possible exit.

Uebber said there was "nothing new to say."

Aabar holds a direct stake of 3.1% in Daimler, which rises to about 9% when including shares it lent to third parties related to financing transactions, according to Daimler's corporate website.

Uebber said Aabar's voting rights remain unchanged.

The emirate of Kuwait is Daimler's second-largest shareholder with a 6.9% stake. Institutional investors held almost 67% and private investors another 20% of Daimler stock as of Feb. 6.

Daimler's relatively large freefloat compared to peers such as Volkswagen AG (VOW.XE) and BMW AG (BMW.XE) had sparked speculation about a possible takeover in the past and about activist shareholders pushing for example for a spin-off of Daimler's truck division.

These concerns eased after Aabar took a 9% stake through a capital increase in 2009 in a deal worth EUR1.95 billion.

Aabar acquired the stake for EUR20.27 per share. Daimler's stock doubled since then and traded at EUR41.99 at 1344 GMT.

A spokesman for Aaber declined to comment.

Earlier Friday, Daimler gave a cautiously optimistic outlook for the full year and reported higher first-quarter earnings due to rising vehicle sales, lower interest charges and a favorable tax rate.