Negotiations to merge MAN, Scania and Volkswagen’s truck operations, have reportedly cooled once again.
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According to the Wall Street Journal Europe, sources close to Volkswagen management have said that discussions are not making any progress and that VW is not sure how to move things along.
Volkswagen is the largest shareholder in both MAN and Scania. Following an unsuccessful hostile takeover of Scania by MAN earlier this year, Volkswagen has been pursuing a friendly merger of the two companies and is hoping to bring its own South American-based commercial vehicle activities into the group.
The other major shareholder in Scania, Investor AB, is supporting Scania management in resisting a merger. Scania has increased in value this year and Investor wants to continue to profit from the company.
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By GlobalData
