According to dpa news, shares in MAN and Volkswagen rose yesterday following a report in German business magazine Focus that the two parties are about to reach an agreement in the dispute about MAN’s plan to acquire Scania.
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Volkswagen shares were also influenced by news that Porsche may increase its stake in the company.
Focus reported that Volkswagen CEO, Bernd Pischetsrieder, would become chairman of the new larger MAN, as a result of an agreement between Pischetsrieder and MAN CEO Hakan Samuelsson. The two men are reportedly planning to set up a new truck company within the MAN Group, that would incorporate Scania and Volkswagen’s Brazilian truck business.
The companies have not commented on the report.
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