MAN Will Not Have to Seek All of Scania’s Shares

German truck maker MAN AG is not obligated to offer to buy all the shares of Swedish rival Scania AB’s shares, even as MAN has ownership ties with Volkswagen AG, Bloomberg reported.

The decision by a Swedish markets regulator follows an inquiry triggered when Volkswagen took control of Scania last month while MAN, which is partly owned by Volkswagen, also had a stake in the Swedish truck maker, Bloomberg said.

Volkswagen owns about 30% of MAN, which in turn has a 17% stake in Scania.

The Swedish regulatory agency said that Volkswagen received an exemption from the Swedish Industry and Commerce Stock Exchange Committee after VW acquired the Scania stakes of the Wallenberg family and its Investor AB holding company on March 3, raising its voting control to 68.6%.