Deutsche Bank on Monday said it and its subsidiaries now hold less than 5% in Swedish truck company Scania AB’s share capital, following disposals made on Friday.
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Dow Jones Newswires noted that Deutsche Bank on Friday bought 63.7 million Scania B shares from rival truck company Volvo AB to place them on the market and, late in the day, held 9.76% of the capital in the Swedish truck maker.
The news agency said that Volvo is in the process of selling its entire holding in Scania after it built up the holding in a takeover bid in 2000 that was thwarted by the European Commission, which gave Volvo until April 23 to sell the entire Scania holding.
Market participants on Friday were concerned that Deutsche Bank wouldn’t be able to sell the Scania stake as easily as it thought and may be left with a loss on its books, Dow Jones said.
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