FRANKFURT, Oct 13 (Reuters) - French insurance company Axa has cut its stake in German truckmaker MAN , MAN said in a financial advertisement on Friday.
Axa's share of voting rights in MAN fell below the 10 percent and 5 percent levels to 3.24 percent on September 29, it said.
MAN on Thursday sweetened its takeover bid for Swedish rival Scania , which opposed the revised offer, sauing it undervalued the company.
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