Volkswagen Increases Scania Stake to 68.6%
German carmaker Volkswagen said on Monday it would raise its stake in Swedish truckmaker Scania to 68.6 percent, a move that may lead to a merger of Scania and German truckmaker MAN.
Volkswagen said it had agreed to buy the stakes in Scania held by Sweden's influential Wallenberg business empire for 200 Swedish crowns ($32.39) per Scania A-share.
The purchase, which is subject to regulatory approval, would raise Volkswagen's stake in Scania to 68.6 percent of votes, Volkswagen said in a statement.
Volkswagen and MAN, in which VW is the biggest shareholder, have been trying to find ways to convince Scania to end its fight for independence and agree to a friendly three-way alliance that would create Europe's truck market leader.