GROUP RAISES SCANDINAVIA FUND &lt;SCF> STAKE
  A shareholder group consisting of
  foreign investment firms and investors said it raised its stake
  in Scandinavia Fund Inc to 2,607,900 shares, or 40.0 pct of the
  total outstanding from 2,309,700 shares, or 35.4 pct.
      In a filing with the Securities and Exchange Commission,
  the group also said it is considering an informal offer made by
  Scandinavia Fund President Bjorn Carlson on March 31 which
  would grant it representation on the company's board.
      The group includes VBI Corp, a Turks and Caicos Islands
  investment firm, and Ingemar Rydin Industritillbehor AB, a
  Swedish investment firm, and Erik Martin Vik, a Norwegian
  investor, and Vik's son, Alexander.
      The group said VBI and the elder Vik bought a combined
  298,200 Scandinavia Fund common shares since March 13 at prices
  ranging from 9.500 to 10.000 dlrs a share.
  

