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FRANKFURT (Thomson Financial) -- Swedish investor Cevian Capital is set to acquire shares in Daimler in an apparent effort to become a significant shareholder in the German carmaker, Sueddeutsche Zeitung said, citing an unnamed hedge funds manager source.

It said financial sources consider it plausible that Cevian Capital could become a Daimler shareholder, adding the former already has a stake in Swedish truck maker Volvo.

It said Cevian acquired a stake of nearly 3 percent in German insurer Muenchener Rueckversicherungs in December 2007, one of the 30 blue chips on Frankfurt's DAX30 index.

Cevian also announced at that time that it was interested in buying further shares in German companies, the report said.

Cevian refused to comment to the newspaper about the rumored Daimler shares acquisition.

"We do not comment on rumors," Lars Foerberg, one of the company's founders, told the newspaper.

The newspaper, citing financial sources, said Cevian can be expected to build up its position in Daimler. It said Cevian does not see itself as a hedge fund but as an investor that pushes for changes in companies.

It added hedge funds in general are actively trading in Daimler shares.

Daimler's share price has dropped by almost 11 percent to 38.47 euros on July 24 after it revised its 2008 EBIT guidance lower. Its share price has been trading at around that level since then.

Focus weekly magazine, citing a supervisory board source, said over the weekend banks have tipped off the company regarding a foreign hedge fund buying a large number of shares in the carmaker after the recent share price slump.

A Daimler spokeswoman told Thomson Financial News on Monday the company has received no indication any hedge fund investor is building up a position in the company.