BERLIN (Reuters) – BMW’s partner in China has no plans to sell its stake in their joint venture, a document seen by Reuters on Thursday showed, contradicting media reports earlier this week.
“Our company and Brilliance China have never talked about the sale of Brilliance China’s 25% stake in BMW Brilliance Automotive,” said the letter from Shenyang Automotive Company to BMW dated Jan. 16.
“Therefore, the information published by some domestic and foreign media is false,” it added.
Bloomberg News reported on Monday that Brilliance China’s biggest shareholder was considering options to raise funds, including selling the investment company’s 25% stake in the joint venture with BMW.
(Reporting by Reporting by Christina Amann; Writing by Madeline Chambers; Editing by Sabine Wollrab and Miranda Murray)
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