STOCKHOLM (Thomson Financial) - Scania AB has denied a media report that merger talks between itself and Germany's MAN AG have broken down, saying there never were any talks in the first place.
'It's very difficult to break off talks when none have taken place,' Scania's corporate relations manager, Cecilia Edstroem told Thomson Financial News. 'We've said that we had discussions, but that was way back before the (MAN) bid was withdrawn, and there haven't been any active talks since then'.
German weekly magazine Focus reported over the weekend that talks had broken down, 'and there is no chance of reaching an agreement'.
The magazine said Scania boss Leif Ostling and his MAN counterpart Hakan Samuelsson met at the request of Volkswagen AG, but failed to make any progress. simon.richardson@thomson.com sjr/cmr COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
© 2007 AFX News
