Renault said on Thursday that it had no plans to sell or cut its stake of around 20% in world number two truck maker Volvo.
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“We are for now satisfied with our stake in Volvo so therefore there is nothing planned. This is an interesting business, not only because dividends are attractive but also because of the [complementary business cycles],” a Renault spokeswoman told Reuters.
The news agency said rumours that Renault could sell its Volvo stake swirled earlier in the day after newspaper Dagens Industri reported that a Swedish financier was trying to drum up interest among big Swedish investors for a bid for the Swedish group or to pressure its management to boost shareholder payouts.
