Ford Seeks to Dispell VW Speculation

Reuters reported that Ford moved Tuesday to quell market speculation that it was planning to take over Volkswagen AG, after a senior Ford executive fueled market talk with comments made in a magazine interview.

``There is no truth in speculation for a takeover,'' a spokesman for Ford's German unit Ford-Werke AG told Reuters. Asked if that meant Ford was not interested in VW, he said, ``I wouldn't go that far.''

But he added that VW company rules effectively prevented a takeover.

Earlier, the head of Ford's European operations, Nick Scheele, had been quoted in a German magazine as saying that even difficult takeover situations were possible.

Scheele, asked whether it was justified that Ford was widely seen as a potential predator of VW, told Germany's manager magazine:

``We have always acquired companies and brands which were actually seen as impossible to buy. Just think of Volvo or Land Rover.''

The Ford spokesman confirmed Scheele's comments.