MAN CEO has no plans to sell Scania shares, views it as strategic holding |
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Published
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Tue, 06 Feb 2007 10:24
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MUNICH (AFX) - MAN AG chief executive Hakan Samuelsson said his company has no plans to sell its 14.54 pct stake in Scania AB as it considers the shareholding a 'strategic' one.Speaking to AFX News ahead of the annual results news conference, Samuelsson said MAN has no plans at present to increase its Scania shareholding, either.Samuelsson said the Scania stake is have ry important' for MAN and that MAN is currently in a have ry strong position' to wait for consolidation developments in the truck industry.'We have time to wait for the discussions,' he said, referring to MAN's intention to pursue amicable 'combination' talks with Scania and its shareholders.'It is still a stake of strategic interest,' he added.MAN made a formal bid to acquire Scania but withdrew it on Jan 23 after it failed to secure acceptances from Scania's major shareholders.marilyn.gerlach@afxnews.commog/jsaCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Scania shareholders see MAN raising bid to 520 skr per share before Jan 31 