Germany's Volkswagen AG (VW) and Sweden's Volvo AB are discussing VW's possible acquisition of Volvo's 45.5% stake in fellow Swedish truckmaker Scania AB, Volvo said.
Volvo is selling the stake, worth about 2.35 billion Euros ($1.99 billion US), as part of its efforts to win European Competition Commission approval for its purchase of Renault SA's Mack/RVI unit. VW owns 34% of Scania's voting stock and 19% of its capital.
The European Commission approved Volvo's RVI/Mack purchase Sept 1, 2000, but ordered it to sever its links with Scania. Volvo acquired its Scania stake as part of a $6-billion takeover attempt that the commission rejected in March, saying it would create a regional monopoly.