MAN has increased its share in Scania to ‘over 16%’.
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According to a report in the German newspaper, Euro am Sonntag, MAN now has over 16% of the voting rights in Scania.
MAN already increased its share in December from 14.8% to 15.6%.
The move is confirmation that MAN is interested in building up a strategic interest in Scania, even if it cannot secure a complete takeover or merger.
Last year MAN attempted a hostile takeover of Scania. The attempt was resisted by Scania.
Volkswagen, Scania’s largest shareholder, successfully manoeuvred itself to have a major role in any alliance by taking a stake in MAN. Volkswagen is still pursuing a ‘friendly’ alliance of the truck manufacturing companies with its own heavy commercial vehicle operations based in South America.
