April 16, 2014 / 3:26 PM / 3 years ago

Sweden's Investor AB turns down Volkswagen's offer for Scania shares

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STOCKHOLM, April 16 (Reuters) - Sweden's Investor AB said on Wednesday it was turning down a 200 crown per share bid by Volkswagen for Swedish truckmaker Scania.

The decision by Investor, which owns rougly 0.4 percent of capital in Scania, follows a recommendation by the members of Scania's board with no direct links to VW that minority shareholders reject the offer.

"Investor's holding in Scania is a trading position and we have already from the start said that we would wait for the independent board committee's recommendation before deciding," Stefan Stern, head of corporate communications at Investor told Reuters.

"And now that that exists, we see no reason not to follow that recommendation," he added. (Reporting by Johannes Hellstrom, editing by Mia Shanley)

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