Swedish Scania says looking at merger with Germany's MAN
Swedish truckmaker Scania and Germany's MAN, both of which are partly owned by Volkswagen, are considering merging, Scania said in a statement Monday.
Scania said it has investigated with MAN collaboration possibilities which has "shown that a full realisation of potential synergies requires a closer cooperation by combining the two companies," while maintaining the two separate brands.
"At this stage no decision has been taken, as there are a number of outstanding issues of commercial and legal nature. A decision can be made only when these issues have been resolved," added Scania.
Volkswagen owns 45.7 percent of Scania and nearly 30 percent of MAN. MAN also has a 13.4 percent staken in MAN.
© 2010 AFP