VW Rejects MAN Bid for Scania

The German car-maker VW, which controls one-third of the Swedish truck manufacturer Scania, has rejected a hostile bid from MAN for the Swedish group.

VW’s CEO Berd Pischetsrieder tells the “Financial Times Deutschland” that even if the 12 billion dollar bid was improved, it would still be unacceptable.

He says MAN, a German industrial group, should abandon its approach in favor of private talks.