Filed under: Mercedes-Benz , Tata Daimler has been hit hard by the weakening global demand for luxury automobiles, as evidenced by the German automaker’s larger than expected 2009 losses and the company’s decision to cut its dividend for the first time in 14 years. Automotive News reports that Daimler is looking to raise money to rebuild its business in developed regions by selling its 25.6 million shares of Tata Motors stock. The move would reportedly net the German automaker an estimated $429 million, four to seven percent below market value. Shares of Tata Motors stock are up 19 percent since February 26, so Daimler stands to earn some serious coin from the share sell off.

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Report: Daimler dumping stake in Tata Motors