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Volvo sells off Scania shares
11th March 2004, Page 7
11th March 2004
Page 7
Page 7, 11th March 2004
— Volvo sells off Scania shares
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VOLVO HAS ended two) of speculation by starting tc its shares in rival Swedish t manufacturer Scania.
Volkswagen, Toyota and had all been linked with the sible purchase of Volvo's s —in fact Volvo has sold its shar Deutsche Bank. which is drip the shares onto the market. I ing the way open for a rival t maker to move in on Scania.
Under a directive from the E pean Commission when it rule Volvo's takeover of Renault,V is committed to selling all c Scania shares by 23 April. week it announced the sale c 63.7 million of its B shares in Sc; that's about 5.8% of the votes 31.8% of the capital.
A Volvo spokesman rev that although the company SKr1.8bn (£150m) on the sin the dividends outweighed this