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• MAN has acted promptly to deny reports that it

26th July 2001, Page 14
26th July 2001
Page 14
Page 14, 26th July 2001 — • MAN has acted promptly to deny reports that it
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is to be broken up and sold off next year. The respected German business magazine Manager had claimed that the five divisions of the MAN Group (trucks, engines, printers, industrial equipment and plant, and industrial services) were to be hived off individually, The report claimed that Allianz, the giant financial group that is part of the consortium controlling more than a third of MAN shares, was negotiating with Volkswagen to sell the truck division, the largest of the five.

However, in a message to employees, MAN chairman Rudolf Rupprecht stated that the report contained "only repetition of familiar rumours from the past which are quite without foundation."