STOCKS NEWS EUROPE-Scania rises sharply as Swedbank Robur accepts VW bid

Shares in Swedish truckmaker Scania (Other OTC: SVKBY - news) rise as much as 9.2 percent after Swedish pension firm Swedbank Robur accepts Volkswagen (Other OTC: VLKAF - news) 's 200 crown-per-share bid for the outstanding shares in the company.

The decision by Swedbank Robur, the fourth biggest shareholder in Scania, sends the stock up 7.8 percent to 186.40 crowns by 0727 GMT, making it the top performer on the Swedish blue-chip OMXS30 index.

"This increases the likelihood the bid will go through, but I would still say that it is a 50-50 chance they will need to extend the acceptance period at the end of the day, tomorrow," says Handelsbanken Capital Markets analyst Hampus Engellau.

Swedbank Robur's acceptance of the bid follows a rejection on Wednesday by Scania's third largest owner Alecta, which cast doubt on whether VW would land the 90 percent acceptance it needs to complete the bid, and sent Scania shares down by more than 5 percent.

The acceptance period for the offer runs through April 25.

Reuters messaging rm://johannes.hellstrom.thomsonreuters.com@reuters.net