August 22, 2018 14:09 CET
— UPDATED: Aug. 22 16:39 CET – adds VW confirming talks
FRANKFURT – Daimler is in advanced talks to buy a stake in Heycar, a used-car portal set up last year by Volkswagen, a spokesman for Volkswagen Financial Services said on Wednesday.
Daimler is seeking a 20 percent stake in talks that could culminate in a deal announcement next week, German business daily Handelsblatt reported earlier, citing unnamed sources. Daimler declined to comment.
Heycar was founded last October and has around 300,000 cars on offer, Handelsblatt said. It competes with German market leader mobile.de and rival Autoscout.24, which is run by Scout24.
Autoscout, which is present in several European markets, had around 3 million active listings at the middle of the year, of which 1.2 million were in Germany.
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