The BAIC of China raising Daimler's stake to unseat Geely as its biggest investor says

BEIJING / FRANKFURT – Daimler's largest China joint venture company, BAIC Group, has unveiled a campaign to double its share to about 10 percent and gain a board seat in the German carmaker as it seeks to develop Geely, two sources told Reuters.

BAIC is the third-largest shareholder of Daimler at the moment, but a 10 percent stake will make it the largest shareholder, surpassing its Chinese rival Zhejiang Geely Holding Grou....