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German bank ups stake in Chrysler to 14%

DaimlerChrysler AG said German bank WestLB “temporarily” boosted its stake in the company to 14%, according to the Detroit Free Press.
The paper's Web site says the world’s fifth-largest automaker and parent company of the embattled Auburn Hills-based Chrysler Group, announced this morning that WestLB increased its stake on April 4, the same day as the DaimlerChrysler annual shareholder meeting in Berlin. DaimlerChrysler also said WestLB’s holdings will be cut to less than 3% “in the foreseeable future.”
WestLB, the third-largest state bank in Germany, is now the largest share owner of DaimlerChrysler stock,

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