Germany's cartel office said Friday it has been informed by carmaker Volkswagen that it might increase its stake in truck and engineering concern MAN from 15 to 30 per cent, REPORTED DPA. MAN is currently engaged in a hostile takeover battle for Swedish rival Scania, of which Volkswagen is the biggest shareholder. A spokeswoman for the cartel office said the move by VW did not automatically mean that it would raise its stake in MAN. A MAN spokesman said the move by VW had been expected. Volkswagen has reportedly signalled its backing for MAN in the 10.4 billion euro (13.1 billion dollars) takeover battle if MAN is able to purchase the shares of Scania's second-biggest stakeholder Investor. But VW is reportedly interested in a fusion agreeable to both the MAN and Scania, industry sources said. Swedish press reports this week said MAN was ready to offer Investor the post of board chairman after a possible tie-up. Investor is controlled by the influential Wallenberg family, which also has family trust funds that own shares in Scania.
