Daimler, BMW Plan Cross-Ownership: BMW and Daimler will both take a 7% stake in each other

While rumors about Mercedes sharing platforms with Aston Martin, Daimler (the company which owns Mercedes) has teamed up with BMW! According to German magazine Der Spiegel, BMW and Daimler are working on a plan to swap shares in order to shore up their businesses during one of the most severe downturns the automotive industry has ever seen.

The deal is for BMW to take 7% of Daimler's shares, and for Daimler to also take 7% of BMW's shares. With that, both companies could survive on with ain't any financial trouble. Both companies will shortly announce a plan to cooperate on purchasing components from each other, in a move that will save both companies hundred of millions of euros in the short-term.

However, the fear from is that Daimler could attempt to takeover BMW as they did previously with Chrysler after first calling the DaimlerChrysler. According to Der Spiegel Magazine, the German government is looking into the deal without any anti-trust or takeover issues, for the future.

Source : [Autonews ]