BMW, Daimler Near Merger of Car-Sharing Units -FAZ

FeaturesDow Jones Newswires

German car makers BMW (BMW.XE) and Daimler (DAI.XE) are nearing a deal to merge their respective car-sharing subsidiaries, Drive Now and Car2Go, Frankfurter Allgemeine Zeitung reports, citing sources within the company.

--Negotiations are in the final stages, and a deal could be announced as early as February, according to Frankfurter Allgemeine Zeitung.

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--Company sources told Frankfurter Allgemeine Zeitung that the merger will lead to considerable cost savings and that both brands are expected to keep their names.

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(END) Dow Jones Newswires

January 24, 2018 03:11 ET (08:11 GMT)

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