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Boardroom struggle over MAN merger
Page 16
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RUMBLIN ( iS IN THE German press suggest Volkswagen is unhappy with the position of Swedish MAN boss Hakan Samuelsson. If correct this could make his job at MAN untenable. There is a battle between MAN and Swedish truck giant Seania over the German's takeover bid.
VW a major shareholder in both companies, wants a friendly merger so it can incorporate its Brazilian-based truck business in a three-way partnership. Samuelsson is seen as a major obstacle to this plan.
VW is expected to introduce two new members to the board at MAN's forthcoming annual general meeting; they will propose a replacement of Samuelsson. In this way VW hopes to increase its chances of a three-way merger.
As reported, VW had rejected MAN's latest hostile takeover bid for Scania,saying it was keen to agree on a friendly merger (CM 18 January).