ROME, Italy – The European Union has effectively halted any hopes Volvo had of merging with its Swedish rival, Scania.
Last month, the European Commission rejected the proposed US $6.9-billion deal, claiming the merger would be anti-competitive.
Published reports in Europe, however, indicate that Fiat – which recently announced an alliance with General Motors – is eyeing the Swedish truck makers. According to a report, the Italian automaker and its truck unit Iveco would most likely bid solely for Scania.
GM and Fiat SpA announced a US $2.4-billion alliance aimed at cutting costs by sharing parts and people. n
Have your say
This is a moderated forum. Comments will no longer be published unless they are accompanied by a first and last name and a verifiable email address. (Today's Trucking will not publish or share the email address.) Profane language and content deemed to be libelous, racist, or threatening in nature will not be published under any circumstances.