MAN has raised its voting rights in Scania from 14.83 to 14.47%.
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According to dpa-AFX, MAN took up an offer from an unnamed Scania shareholder to exchange 3.6m B-shares for A-shares with 10 times more voting rights.
The move signals 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 which saw its business being swamped by MAN.
Volkswagen, already a major Scania shareholder, successfully manoeuvred itself to have a major role in any alliance by taking a stake in MAN. Volkswagen is still pursuing an alliance of the truck manufacturing companies with its own heavy commercial vehicle operations based in South America.
