Geely mulls Daimler links to expand global reach

Move comes after firm turns largest shareholder in German carmaker with 9.69% stake

Hong-Kong listed Geely Automobile Holdings Ltd said on Monday it may cooperate with Mercedes-Benz owner Daimler AG, as its sibling Geely Group has become the largest shareholder in the German carmaker with a 9.69 percent stake.

"We do not exclude the possibility of seeking cooperation with Zhejiang Geely Holding Group and Daimler AG considering the benefits to us and our shareholders," said the carmaker, which produces Geely-branded cars, in a statement. The carmaker's stock surged on Monday, rising 6.49 percent to close at HK$25.45 ($3.25).