Volkswagen wins EU approval to buy Scania
Germany’s Volkswagen has won the approval from the European Union to buy Swedish truck and bus maker Scania.
“The transaction would not give rise to competition concerns” in the European Union, the European Commission, the EU’s antitrust watchdog, said in a recent statement after examining the operation.
Volkswagen mainly produces passenger cars and light commercial vehicles, including spare parts and accessories, while Scania manufactures trucks with a gross vehicle weight of more than 16 tons for long-haulage, construction haulage and distribution of goods. Although Volkswagen holds a minority shareholding in MAN, a German producer of medium-sized and heavy trucks, buses and engines, the activities of Volkswagen and Scania do not overlap as far as their core business is concerned, the commission said. (people.com.cn)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.