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Image header Agence Europe
Europe Daily Bulletin No. 8494
Contents Publication in full By article 23 / 46
GENERAL NEWS / (eu) eu/competition

Scania files complaint against Commission

Brussels, 30/06/2003 (Agence Europe) - The Swedish motor vehicle manufacturer, Scania, has filed a complaint before the European Court of Justice against the European Commission. Scania reproaches the Commission for hindering competition by allowing Scania's rival, Volvo, to keep a stake in its capital, a stake that had been acquired with a view to a merger between the two companies. The Commission had placed its veto on the merger between Volvo and Scania in March 2000, considering that the operation could create a dominant position on the market for heavy goods vehicles in Scandinavia, and ordered Volvo to resell its stake by April 2004 at the latest. Volvo, however, is currently in discussion with the Commission to have this delay extended, which would allow it to sell its state at a better price, something that Scania refuses. Scania justifies itself by saying it wishes to ensure that the unfortunate issue of a stake in Scania shares is resolved as quickly as possible. It says that, having one of its main competitors as a key shareholder is detrimental to competition and makes the work of Scania more difficult.

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