VW's Piech not aiming to merge MAN, Scania: report
Trucks of German truckmaker MAN AG are parked at the MAN truck construction plant in Munich November 17, 2006.
Credit: Reuters/Michael Dalder
FRANKFURT |
FRANKFURT (Reuters) - Volkswagen (VOWG.DE) Chairman Ferdinand Piech does not intend to merge truckmakers MAN SE (MANG.DE) and Scania (SCVb.ST), the Sueddeutsche Zeitung newspaper reported without giving a source for the information.
Speculation about a merger has increased after MAN Chief Executive Hakan Samuelsson unexpectedly resigned on Monday, which analysts saw as boosting chances for a three-way truck alliance among VW, MAN and Sweden's Scania.
VW has a nearly 30 percent voting stake in MAN and already has majority control of Scania.
The newspaper said Piech intended to keep MAN and Scania as independent brands along the lines of its Audi and Skoda automobile marques.
VW has declined to comment on the changes at MAN.
(Reporting by Michael Shields, Editing by Peter Dinkloh)
- Tweet this
- Link this
- Share this
- Digg this
- Reprints
Follow Reuters