Sweden’s Wallenberg family is considering buying AB Volvo’s 45.5% stake in Scania AB, the weekly WirtschaftsWoche said in a pre-release of a story for its Thursday edition, citing sources from the financial industry.
Volvo has to sell its stake in Scania by April 2004 to comply with the European Commission’s conditions on Volvo’s acquisition of Renault’s truck operations.
According to WirtschaftsWoche, the Wallenberg family now owns a total of 12% in Scania and 20% of the voting rights through its company Investor and two foundations, so buying the 45.5% stake would give them majority control.
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