BEIJING, March 7 -- Volkswagen AG Chairman Ferdinand Piech plans to join MAN AG's supervisory board as Europe's largest car maker pushes for a three-way combination with Swedish rival Scania AB.

    MAN was expected to announce yesterday that Piech and Rupert Stadler, chief executive officer of Volkswagen's Audi luxury unit, will be candidates for board seats at the annual general meeting on May 10, according to two insiders.

    The pair asked not to be identified because Munich-based MAN's board has yet to vote on the candidacies, Bloomberg News reported.

    Volkswagen last week raised its MAN stake to 29.9 percent from 20 percent, increasing its leverage to create the merger of its own truck division with MAN and Scania. Together the companies would become Europe's largest truck maker.

    "This gives a clear signal that Volkswagen wants to wield greater influence over this business and extend its reach within the commercial vehicle industry," said Stephen Pope, head of equity research at Cantor Fitzgerald in London who has a "buy" rating on the shares.

    (Source: Shanghai Daily)