VW says it holds 55.9 percent of voting rights in MAN
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
© 2011 AFP