STOCKHOLM, March 20 Activist fund Cevian Capital
said on Thursday it had raised its share in Volvo to
12.67 percent of votes, nearly doubling its stake in the world's
second-biggest truck maker in six months.
Cevian announced in December it had built up its stake to
10.5 percent of votes from 6.7 percent in September, making it
the second biggest owner after Industrivarden which
holds 20 percent according to Volvo's website.
The activist fund has owned a stake in Volvo since 2006 when
it swept in demanding changes to the company's structure, among
them the sale of the group's aerospace unit which has since been
sold to Britain's GKN.
Cevian has recently called on the company in Swedish media
to "start delivering".
Volvo, whose shares are up over 18 percent year-to-date,
launched an efficiency drive in 2012 with a target of boosting
its operating margin by 3-5 percentage points by the end of
(Reporting by Mia Shanley, editing by David Evans)