Porsche announced that it will increase its holding in Volkswagen to over 50 per cent (50.76 per cent of all ordinary voting shares). The result of this action is that Porsche will have indirect control over Scania AB, Sodertalje. The Swedish law says that now Porsche has to launch a mandatory offer for the truck manufacturer which has to include the minimum price prescribed by law.
The minimum price will be calculated on the basis of the volume weighted average stock exchange price of the Scania shares during the 20 trading days prior to publication of the acquisition of the majority in Volkswagen.
However, Porsche says that it ha no strategic interest in Scania and does not which to buy Scania shares.
