New twists came rapidly last week in the extraordinary tussle among Volkswagen, MAN and Scania. VW chief executive Bernd Pischetsrieder suddenly resigned from the company, prompting renewed speculation about VW's rejection last month of MAN's bid for Scania.
VW holds 34% of the voting shares in Scania, in a deal done by former CEO, Ferdinand Piech, now VW chairman.
Meanwhile, organisations linked to the Wallenberg family raised their combined shareholding in Scania above 30%, giving
them a blocking vote. The move is being investigated by Sweden's financial regulator but is completely proper, says Investor, Wallenberg's main investment company.
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