LONDON - Swedish truckmaker Volvo is close to hiring an investment bank for a possible three billion euros ($3.8 billion) placing of its shares in rival firm Scania, the Financial Times said on Friday.
Volvo has also had talks with potential buyers for its 31 percent voting stake in Scania, the report added.
"We have had and are still having discussions with a number of potential buyers," said Per Lojdquist, Volvo head of corporate communications, according to the FT.
Scania's ownership is set to change because Volvo has to sell its stake in the firm, which it built up during an attempted merger deal four years ago that was stopped by the European Commission on competition grounds.
The Commission gave Volvo until April 2004 to sell the stake.