Volvo shareholder expresses interest in Renault's stake

21st June 2010, Comments 0 comments

The chairman of Volvo Group's second-biggest shareholder, Swedish holding company Industrivaerden, said in comments published Monday his firm would be interested in buying some of Renault's stock in Volvo trucks.

"If Renault wants to sell its shares, we would be interested in taking some of them," Industrivaerden's new chairman, Sverker Martin-Loef, told financial daily Dagens Industri.

The comments sent Volvo Group shares up more than four percent in early trading on the Stockholm Stock Exchange, and by around 1130 GMT they were trading up 3.17 percent at nearly 96 kronor (12.51 dollars, 10.09 euros) a pop.

Dagens Industri's report came amidst speculation in Swedish and international media that France's Renault, which is Volvo's largest stakeholder with 21 percent of shares, would divest itself of its holdings in the Swedish truckmaker.

Industrivaerden holds 8.5 percent of Volvo Group, which makes trucks, buses and boat and aircraft equipment, but does not include the Volvo Cars brand.

© 2010 AFP

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