VW “could sell Scania stake”

Volkswagen CEO Bernd Pischetsrieder has said VW does not intend to acquire more shares in Scania, and may well have to decide whether to sell its blocking minority stake in the Swedish truckmaker.

“We have a choice as a company, either if the opportunity arises, to consolidate within Volkswagen our heavy truck business, or – as it more looks like it at the moment – if it does not arise, we will possibly one day take a decision to sell the Scania shares,” he told a conference call with analysts.

“But for the time being, I still have hope that some of our alternative plans for Volkswagen’s future in the trucks business will be (sic) materialized,” he said.

“But in order to avoid new speculations, we neither intend to purchase or add shares nor do we have any plans, particularly not with the current stock price, to acquire any,” he added.

VW owns 18.7 pct of the share capital and 34.0 pct of voting rights in Scania.