Scania, MAN, VW Truck Co. in Brazil?

Posted on September 26, 2006

Volkswagen chief executive Bernd Pischetsrieder reportedly told the Financial Times Deutschland that even if MAN’s bid for Scania, said to be worth € 9.6 billion, was improved it would still be unacceptable. VW controls 34% of the voting share of Scania. Pischetsrieder said that MAN should abandon its approach in favor of private talks.

Pischetsrieder did say however that he was in favor in principle of combining Scania and MAN with VW's heavy truck business in Brazil. But he added: "For me this can't be achieved by a takeover of Scania by MAN. I have rejected the bid and have no intention of changing my mind."