Business & Finance
Volkswagen says it holds 55.9pc of voting rights in MAN
FRANKFURT : Volkswagen, the biggest European automaker, said Monday that it now holds 55.9 percent of the voting rights
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FRANKFURT: Volkswagen, the biggest European automaker, said Monday that it now holds 55.9 percent of the voting rights in heavy truck maker MAN, paving the way for a tie-up with Scania of Sweden.
VW wants to merge the two companies along with its own heavy vehicle activities to create a rival for two other European heavyweights, Daimler Trucks and Trucks.
VW had made a public offer for shares in MAN, which also makes diesel engines and industrial turbines, of 95.00 euros ($138.51) for ordinary shares and 59.90 euros for preference shares.
Copyright AFP (Agence France-Presse), 2011
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