Volkswagen has increased its stake in MAN to 29.9% from 20%. The increase took place on 26 February.
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In a statement the company said that “The board of management of Volkswagen is convinced that this level of participation in MAN is both helpful and adequate to allow all parties to find a friendly and mutually agreeable solution for combining MAN and Scania. Realising the acknowledged high synergy potential remains the objective.”
Volkswagen is also the largest shareholder in Scania with 34% of the voting rights. It had supported a takeover bid by MAN last autumn if MAN could reach agreement with other major Scania shareholders. This did not happen and MAN withdrew its bid, but the various parties are still in talks to reach a friendly merger solution.
Volkswagen is particularly keen that its South American heavy truck operations are included in a merger, something that Scania management has so far resisted.
