Bodo Uebber, chief financial officer of Germany's car manufacturer Daimler, said that they are not expecting sovereign wealth fund China Investment Corp. to buy 10% stake in the company.

Uebber told in an interview that he does not expect that the Chinese fund will take the stake and that the speculation that they are looking for another shareholder aside from Kuwait is not true.

In January this year, Daimler saw a rise in its shares after a report from a Chinese media claimed that China Investment Corp. has interest in purchasing a stake ranging from 4 to 6 percent stake in the company.

Currently, Kuwait holds a stake at 7.6% in Daimler.