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Volkswagen's Supervisory Board Continues to Favor Amicable Solution


October 2006
 Filed under: VOLKSWAGEN CORPORATE Car News | VOLKSWAGEN CORPORATE Headlines

Board’s decisions valid for four weeks

Wolfsburg, 15 October 2006 - The Supervisory Board of Volkswagen Aktiengesellschaft addressed the MAN/Scania issue at its extraordinary meeting today. The Supervisory Board is convinced that a solution acceptable to all sides remains the preferred outcome. The goal of such a solution could only be the merger of MAN and Scania.
The following two resolutions by the Supervisory Board will remain in force until its next regular meeting on November 17.

1. Volkswagen shall only offer its 34 percent of Scania’s voting rights and 18.7 percent of Scania’s equity to MAN Aktiengesellschaft if MAN has received commitments to tender representing at least 71.31 percent of Scania’s capital and at least 56.01 percent of Scania’s voting rights.

2. Volkswagen would not support a counterbid by Scania at the present time.

Source: Volkswagen

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