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China's Midea Shares Hit Record High After Firm Raises Stake In Germany's Kuka

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy

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A robot arm of German industrial robot maker Kuka is pictured at the Hannover Fair in HanoverShares in China's Midea Group Co Ltd hit a record high on Friday afternoon after the home appliance maker said it was increasing its stake in German robotics maker Kuka , as part of a 4.5 billion euro ($5 billion) takeover. At 0632 GMT, Midea shares were up 6.5 percent at 28.80 yuan. Together with a 13.51 percent stake already owned by Midea, the Chinese firm said on Thursday it would hold a total of 70.29 percent of Kuka.




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