Sweden's Veoneer says still recommends Magna merger
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STOCKHOLM, Sept 9 (Reuters) - Swedish auto parts maker Veoneer Inc said on Thursday that it was continuing to recommend the bid from Magna International Inc , while remaining in discussions with Qualcomm.
"Veoneer continues to recommend Magna merger at this time," it said in a statement.
Veoneer added that it would continue to engage in discussions with Qualcomm in response to the firm's competing proposal.
Qualcomm on Aug. 5 said it had offered $4.6 billion to buy Veoneer, an 18.4% premium to a July bid, worth around $3.8 billion, by Canada's Magna that had already been accepted by Veoneer's board.
(Reporting by Helena Soderpalm; Editing by Johan Ahlander)
