Volvo Aero won't bid for German MTU -report

Newswire

STOCKHOLM, Aug 18 (Reuters) - Swedish trucks maker AB Volvo's Aero unit will not take part in the auction of Daimler-Chrysler AG's aero engines division, the Swedish business daily Dagens Industri reported on Monday. "Before Volvo Aero decided to refrain from entering a bid for MTU it carried out an extensive analysis which showed that the synergies between the companies are insufficient," Dagens Industri said on its Internet web site. "The sum on the price tag turned out to be too ...

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