Wednesday, January 25, 2006

Daimler pressed to dump Smart

By Richard Milne in Frankfurt and James Mackintosh in London
Updated: 10:40 p.m. ET Jan. 25, 2006

Pressure is growing on DaimlerChrysler to dump its loss-making Smart small car unit, with four of the German carmaker's top 10 shareholders on Wednesday calling for it to be sold.
The Kuwait Investment Authority, Daimler's leading shareholder with 7.2 per cent, alongside German investors Union Investment and Activest all said the best solution would be to get rid of Smart, even if it entailed a large cost to the carmaker. It is extremely rare for Kuwait to comment in public on any of its investments.

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