Are the two issues related? Daimler AG may well have had a bit of a chuckle at AB Volvo's Gardell-induced aggravation, and, now the threat is rather closer to home, a more passive investor from the Gulf might be just what the Dr wants. Reports in Germany's Focus magazine suggest that the ADIA has over €500 billion under management, and also hints that Daimler's largest single shareholder, the Emirate of Kuwait , which holds 7.6 per cent of the company, may also be looking to extend its stake.

No doubt Daimler watched with something approaching morbid fascination as BMW's first half figures fell by in excess of 35 per cent. Arguably, Daimler is better positioned in terms of exposure, but the fact remains that any car manufacturer with at least one foot grounded in reality must be assuming bad times ahead. This is the sort of environment that could well lead to a bit of grumpiness on the part of the small shareholders; something that Daimler is  cursed - or blessed - with in some abundance and hence - we assume - Gardell's interest. In a situation such as this, we reckon that both the ADIA and the KIA would be seen as white knights in Stuttgart, whereas Cevian would be cast as anything but.