Scania and Ericsson see shares tumble

Shares in truck maker Scania plummeted on the Stockholm stock exchange on Tuesday following Monday's acquisition of the company by Volkswagen. Telecoms giant Ericsson also contributed to a rough day of trading.

Despite a positive start, the OMXS index shed 2.2 percent of its value, closing at 308.4 points.

Scania continued to tumble after Monday’s major deal. Mats Qviberg, CEO of investment company Öresund, characterized as “objectionable” the fact that not all shareholders in Scania were offered the same price, 200 kronor per share, that Investor received from Volkswagen. Shares in Scania fell by 6.3 percent to 129.25 kronor.

Ericsson’s long-suffering shareholders saw the company’s stock drop to its lowest point since December 2003. Shares in Ericsson lost 3.1 percent of their value and are now worth just 12.56, a 17.2 percent drop since the beginning of the year.