KUALA LUMPUR: DRB-HICOM Bhd fell in late trade today after billionaire Li Shufu reportedly said he was planning to pull Zhejiang Geely Holding Group Co out of a bid for Proton Holdings Bhd. DRB-HICOM, which owns Proton, eased 3.45 per cent or five sen to RM1.40 in active trade involving 14.38 million shares. Various reports have placed Geely and France’s Groupe PSA as leading parties to become Proton’s partner. Bloomberg reported that Proton chief executive officer Datuk Ahmad Fuaad Kenali and a company spokeswoman declined to comment on Li’s remarks. DRB-HICOM had stated that Proton’s strategic partner would only be announced by June.

Source: New Strait Times March 03, 2017 12:22 UTC