Truck maker Scania AB has not yet held any talks with German rival MAN AG or their biggest owner Volkswagen AG on a tie-up of the two truck makers, a member of Scania's board said today.
Volkswagen this week lifted its stake in the Swedish truck maker, raising pressure for a merger of Scania and MAN in the wake of the German group's failed bid for its rival.
Scania's board was not informed in advance about Volkswagen's purchase of additional Scania shares or about its intentions regarding the deal, one of its members said.
"This was a bit of a surprise for us and we don't really know what it means," Scania board member Peggy Bruzelius said.
"There have not been any talks between Scania and MAN or Scania and Volkswagen, but I can't say anything about what has happened on the owner-side," she added.
Bruzelius acted as spokeswoman for the board in connection with MAN's $13.6 billion (10.3 billion euros) hostile bid for Scania which foundered earlier this year on resistance from Scania management and second biggest owner Investor AB.
