Volkswagen eyes Scania stake: report
AFP/The Local - [email protected]
Published: 14 Nov, 2010 CET.
Updated: Sun 14 Nov 2010 08:34 CET
German automaker Volkswagen is looking to boost its trucking activities by increasing its stake in Sweden's Scania, according to a report in the German Der Spiegel daily.
Furthermore the German giant wants to rehaul its trucking activities by transferring its share in German truck firm MAN to its Nordic rival.
In its edition to appear Monday, Spiegel said Volkswagen's plans would see the German auto giant boosting its share in Scania to between 75 to 80 percent -- compared with the current 46 percent -- and transferring its 30 percent stake in MAN to Scania.
Scania would then make an offer to MAN shareholders to be the main owner and ultimately merge with MAN, Spiegel reported.
MAN currently holds a 13.4 percent stake in Scania, which it once tried to take over.
Volkswagen could not be immediately reached for comment.
Last July Scania said it was studying a collaboration with MAN to manufacture spare parts.
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Furthermore the German giant wants to rehaul its trucking activities by transferring its share in German truck firm MAN to its Nordic rival.
In its edition to appear Monday, Spiegel said Volkswagen's plans would see the German auto giant boosting its share in Scania to between 75 to 80 percent -- compared with the current 46 percent -- and transferring its 30 percent stake in MAN to Scania.
Scania would then make an offer to MAN shareholders to be the main owner and ultimately merge with MAN, Spiegel reported.
MAN currently holds a 13.4 percent stake in Scania, which it once tried to take over.
Volkswagen could not be immediately reached for comment.
Last July Scania said it was studying a collaboration with MAN to manufacture spare parts.
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