MAN: Doesn't Expect Change In VW, Scania Truck Cooperations
August 03,2009
German truck and engineering company MAN SE (MAN.XE) said Thursday it foresees no changes to its truck cooperations with Volkswagen AG (VOW.XE) or Scania AB (SCV-A.SK).
On an analyst conference call, MAN said there is no sign that Volkswagen wants to change its 29.9% stake in MAN. Volkswagen is MAN's largest shareholder.
At the same time, MAN said it has no need to sell its stock in Scania. Volkswagen also owns a majority in Scania.
MAN said at the moment it has its hands full with its truck investments in Latin America, which were consolidated this quarter, and in China, where MAN is buying a 25% stake plus one share in Sinotruck for EUR560 million.
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