European Truck Makers MAN, Scania Consider Joint Efforts

European truck makers Scania AB and MAN SE are considering a joint effort to make commercial vehicles and potentially become Europe’s largest truck maker, Bloomberg reported Monday.

Volkswagen AG is seeking to boost stake in Sweden-based Scania to between 75% and 80%, Bloomberg said, citing German magazine Der Spiegel.

VW, which holds 46% of Scania, plans to raise that stake by transferring to Scania its almost 30% stake in Germany-based MAN, the newsmagazine said.

MAN’s stock price surged 6.3% after the report was released about a deal that could potentially create Europe’s largest truck maker, while Scania’s price rose 1.2%, Bloomberg reported.