Transportation Industry
Volkswagen Says Talks to Continue With Scania, MAN on Merger
Transport Topics, September, 2007 by Thomas, Chad
Volkswagen AG, Europe's largest carmaker, said discussions with MAN AG and Scania AB about a merger continue, denying a news report that they had collapsed.
"We are still in talks with both companies, but there is no urgent need to reach a conclusion right away," Andreas Meurer, a Volkswagen spokesman, said by telephone.
The magazine Focus reported earlier this month that the latest discussions ended after Scania Chief Executive Officer Leif Oestling insisted that any merged company should be run by Scania and based in Sweden and that no new talks were planned.
Ferdinand Piech, chairman of Volkswagen and MAN, tried unsuccessfully in recent weeks to persuade Sweden's Wallenberg family, Scania s second-largest shareholder, to agree to the deal, the German magazine...
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