• VW works towards Scania-MAN tie-up

Dow Jones said that Swedish truck maker Scania declined late Thursday to comment on rumors that its chief executive, Leif Östling, will soon join the board of its controlling shareholder, German auto maker Volkswagen.

Leif Ostling could replace Jochem Heizmann as truck chief on Volkswagen's board as the German company reshuffles its management in an effort to become the worlds largest auto maker by 2018, German daily Handelsblatt wrote.

Östling started his employment at Scania in 1972. Since 1994 he is President and CEO of Scania AB.

In April Scania reported first-quarter profit that beat estimates after the company eliminated jobs to prepare for slowing demand and raised prices on some models.