Volkswagen reshapes European trucking in deal with Scania

Scania's R470 model

BERLIN -- German auto giant Volkswagen will boost its interest in Sweden's heavy-truck maker Scania to 75 - 80 percent from its current share of 46 percent, according to a Spiegel article to appear in Monday's edition.

Furthermore, Volkswagen's 30 percent stake in the German MAN Truck firm will transfer to Scania to set-up an eventual merger.

In 1999, Volvo attempted a takeover of Scania. The deal failed after the European Union disapproved the affair, saying it would create a company with almost a 100% "Nordic" market share for Class 8 truck makers.

From various sources via AFP