The proposed sale of Swedish truck giant Scania to Volkswagen is hanging in the balance after two of the company's owners said they were unwilling to sell their shares to the German manufacturer.
Europe's biggest carmaker, Germany's Volkswagen, said Friday it was making a 6.7-billion-euro ($9.19 billion) offer to grab the nearly 40 percent of Swedish truck manufacturer Scania it does not already own.
German automaker Volkswagen aims to replace rival Daimler as the world's leading truck manufacturer. Three Swedes - one of whom is nicknamed "Mr Truck" - have been tasked with making VW the king of the road giants.
Volkswagen, the biggest European automaker, said on Monday that it now holds a majority of the heavy truck maker MAN, a key step towards the creation of a third European truck giant.
Europe's biggest automaker, Volkswagen, unveiled on Monday plans to advance towards a merger of truck makers MAN and Scania by increasing its holding in MAN to more than 30 percent.
Swedish truckmaker Scania and Germany's MAN, both of which are partly owned by Volkswagen, are considering merging, Scania said in a statement on Monday.
The CEO of Swedish truck manufacturer Scania has ruled out an alliance with German competitor MAN in order to save billions on the production line, despite rumours of a deal involving Volkswagen.
