Volkswagen Considering Buying Serbian Carmaker Zastava

According to Germany's Handelsblatt newspaper, Volkswagen AG is looking into buying the Serbian state-owned carmaker Zastava in order to gain additional production sites in Eastern Europe. Although the newspaper says that VW representatives visited a Zastava plant in Serbia ahead of the Easter holidays, a spokesman for the German company told Handelsblatt that Volkswagen has not yet decided whether to bid for the carmaker. Zastava is currently 99.9 percent-owned by the Serbian government, which aims to sell 98.8 percent of shares according to the report.