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Quandts quash BMW rumour

2007-07-16 15:45
Frankfurt - BMW's largest shareholder, the Quandt family, vehemently denied on Monday market speculation that it was considering a sale of an unspecified amount of shares in the world's largest premium carmaker.

"That's absolute rubbish, I have no idea where in the world that's coming from...it's absolutely groundless," a spokesperson for the family said.

Dealers earlier said shares in BMW had risen by 2.5% on rumours that the Quandts, who hold 46.6% in the company, were talking to investors from China and the Middle East about a potential sale.

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