| In the news: Volkswagen AG Chairman Ferdinand | | | | merger with Scania is high. |
| Piech was reported to be planning of joining | | | | |
| MAN AG's supervisory board. This will enable | | | | There are two aspiring candidates who are |
| Europe's largest automaker to push through | | | | seen to replace Joachim Milberg -- Bayerische |
| with their plan to create a three-way | | | | Motoren Werke AG's supervisory board |
| combination with Swedish rival Scania | | | | chairman, and Herbert Demel, chief executive |
| AB--that is according to sources who are | | | | of Magna Powertrain AG. Andreas Meurer, |
| familiar with the situation. | | | | Volkswagen spokesman and Andreas Lampersbach |
| | | | spokesman of MAN refrain from giving their |
| MAN has also announced that Piech and Rupert | | | | comments on the matter. |
| Stadler chief executive officer of | | | | |
| Volkswagen's Audi luxury unit are going to be | | | | It is no secret that Piech who is at present |
| the candidates for board seats at the annual | | | | the CEO of Volkswagen has also held the same |
| general meeting which will be held on May 10. | | | | role in Scania AB from May 2000 to April |
| | | | 2003. Europe's largest automaker, Volkswagen |
| It should be noted that Volkswagen---Europe's | | | | is the largest shareholder of both Scania and |
| largest automaker and maker of quality | | | | MAN. Piech is also occupying a seat on the |
| Volkswagen turn signal--- has increased its | | | | board of Porsche AG which is controlled by |
| stakes at MAN to 29.9 percent from 20 percent | | | | none other than Piech and Porsche families. |
| which increases its power to influence the | | | | Porsche which has the highest profit margins |
| merger of its own truck division with Scania | | | | of any carmaker in the world owns 27.4 |
| and MAN. And if ever Volkswagen succeeds with | | | | percent of Volkswagen which strengthens Piech |
| its plan in merging the two truckmaker with | | | | position in the company. |
| its own it will become Europe's largest | | | | |
| truckmaker surpassing DaimlerChrysler AG and | | | | Piech was also the one responsible for |
| Volvo AB. | | | | ousting CEO Bernd Pischetsrieder and replaced |
| | | | him with his favorite protégé Martin |
| According to Stephen Pope, head of equity | | | | Winterkorn who was at that time the head of |
| research at Cantor Fitzgerald in London, | | | | Audi which is one of Volkswagen's most |
| "this gives a clear signal that Volkswagen | | | | profitable units. |
| wants to wield greater influence over this | | | | |
| business and extend its reach within the | | | | It was last Oct. 4 when Volkswagen announced |
| commercial vehicle industry. Volkswagen also | | | | that it has purchased 15.1 percent of MAN's |
| clearly wants to dictate the strategy of any | | | | shares as a "strategic move". The company has |
| merger." It was last September when MAN has | | | | announced a month later that it has increased |
| made a hostile bid for Soedertaelje, | | | | its holdings to around 20 percent and was |
| Sweden-based Scania but dropped the offer on | | | | given the privilege to increase its stake to |
| January this year. But with Volkswagen to | | | | as much as 29.9 percent. |
| control MAN the possibility of pursuing a | | | | |