FRANKFURT -- The head of Swedish truckmaker Scania was quoted on Wednesday as saying he wanted car maker Volkswagen and investment group Investor to remain its main shareholders in a forthcoming ownership reshuffle.
"In my personal opinion that would be a sufficiently stable ownership structure," Scania Chief Executive Leif Ostling told Germany's Handelsblatt business newspaper, adding that he saw no need for any further owners.
Scania's ownership is set to change because competing truckmaker Volvo must get rid of its roughly 31 percent of Scania votes, which was the result of a merger attempt three years ago that was stopped by the European Commission on competition grounds.
The Commission gave Volvo until April 2004 to divest the stake.
Swedish investment group Investor, which owns 20.4 percent of votes in Scania, said this week it wanted to take part in reshaping the truck maker's ownership structure but that did not necessarily mean making a full takeover bid.
Ostling, who repeated his preferred solution would be for Volvo to distribute its Scania shares to its own shareholders, declined to comment on how far any talks with Investor had gone.
VW has repeatedly said it does not intend to increase its minority stake, but there has been speculation that it or German truck maker MAN may seek to take over Scania completely, a prospect Ostling found hard to stomach.
"Scania as a German-controlled company? I can only say: without me. German corporate governance and the workers' participation in decision-making is a red rag to a bull for me."