BERLIN (AP) -- Volkswagen AG says it is in discussions with EU regulators to secure clearance for its plans to deepen cooperation with truck makers MAN SE of Germany and Scania AB of Sweden.
German carmaker Volkswagen said Monday that it won't try to have its own top managers elected to MAN's supervisory board yet. Volkswagen, MAN's biggest shareholder, said its chief executive Martin Winterkorn and two others have withdrawn their candidacies for the MAN board.
Last month, Volkswagen said it had increased its voting stake in MAN to more than 30 percent. Under German law, that has triggered a mandatory takeover offer for the whole company.
Volkswagen says it needs EU clearance for a MAN merger to be able reduce costs in a three-way alliance that also includes Scania.
