“We have received a mandate from the Social Democratic conference on growth to reform the wealth tax. A step was taken in the budget bill by sharply raising the untaxed amount. Whether we need to take further steps is something we will assess once we review the tax adjustments,” he said.
Scania wants to buy out Ainax
Scania has gone on the offensive and announced an offer to buy Volvo’s old Scania shares now held in Ainax. Ainax shareholders were offered a newly issued Scania share for each Ainax share and the offer is based on the condition that Scania gets to own more than 50 per cent of the shares and votes in Ainax, whose only assets are Volvo’s formerly held Scania A-shares. Shareholders representing more than half of the capital and votes in Scania are in favour of the proposal. However, Ainax President and Chairperson Mariana Burenstam Linder was cautious in her reaction, saying the board will study the offer and later come out with a recommendation.
On Monday Scania posted roughly 1.3 billion crowns in third quarter profit, up nearly 70 per cent on the year and about 46 per cent higher than the consensus estimate. Sales rose 1.8 billion crowns to 13.3 billion crowns. Order intake for trucks rose in all markets save for Asia and buses also reported rising order intake for the quarter. CEO Leif Östling noted that the market has improved partially and that the company is effectively capturing market share.
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