Volkswagen has taken a significant step towards its goal of combining its commercial vehicle interests by raising its stake in German truckmaker Man and announcing an offer.

Europe’s largest volume carmaker said it wanted to take greater control of Man to gain regulatory approval for more money-saving co-operation between Man and Scania, the Swedish truckmaker it controls. Yesterday, VW raised its voting stake in Man to 30.47 per cent. – (Copyright The Financial Times Limited 2011)