Sweden’s Financial Supervisory Authority has said Porsche would be required under that country’s takeover rules to make an offer for Scania if it raised its stake in Volkswagen above 50%.
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Volkswagen controls Scania with a 68.6% voting stake and holds an exemption from making a compulsory bid for the Swedish truck maker, Reuters reported.
However, if Porsche took a majority stake in Volkswagen it would be considered an indirect shift of ownership in Scania, and cancel Volkswagens’ exception to Swedish bidding rules, the authority said.
An authority lawyer told the news agency Porsche could apply for a new exemption from having to make an offer to the remaining Scania shareholders.
