Monday 24th Oct 2016 - Logistics Manager

VW buys 15 per cent of MAN

Volkswagen AG has purchased a 15 per cent stake in MAN AG for £1.01bn, making it the biggest shareholder in both Scania and MAN.

VW who owns a 34 per cent stake in Scania, opposed MAN’s rejected £6.4bn initial hostile takeover bid.

Financial experts believe that VW’s move increases the likelihood of a friendly cooperation between the three companies.

A new offer for Scania is expected to be announced soon.