Volvo Wants to Sell Stake in Scania Trucks

Volvo says it wants to sell its stake in Swedish truck maker Scania but it appears to have chosen a bad time to put its shares on the block. Volkswagen, who already owns a stake of Scania apparently has second thoughts as to whether it even wants to keep what it has, much less invest in more. European analysts speculated that future CEO Bernd Pischetsrieder is not as interested in trucks as is Ferdinand Piech who purchased VW's 19% stake last year. At the time, VW appeared real keen on boosting its truck business in Europe and everyone expected VW to come back and buy more shares, but now with the changing of the guard, that's less likely to happen.

Some analysts have suggested that Germany's Man represents a potential buyer for Volvo's shares but it is not a core business for Man and the company is reported to be financially challenged at this time.