All reports point to Porsche gobbling up majority stake in VW
The ongoing saga, "As the VW Takeover Turns" received a new update via Germany's Der Spiegel news mag (think Time, Newsweek, etc.), where a report revealed that Porsche is aiming to raise its stake in Volkswagen to 51-percent.The Deutsch weekly cited unnamed stock market sources that claim Porsche is pursuing shares at a set price and that the move may come at the start of 2008. Currently, Porsche has a 31-percent stake in VW, after its initial takeover bid took place in March, with only one-percent of V-Dub shareholders accepting the offer. The additional shares needed to gain a majority stake in VW may come from the 20-percent held by the state of Lower Saxony.
Both Lower Saxony and Porsche have denied the plans so far.
[Sources: Reuters, Forbes]
Reader Comments (Page 1 of 1)
Egisto Soldi 10:47AM (9/03/2007)
The big mind is Piech, but all news about saga VW-Porsche are positive for VW title in Frankfurt stock market...
http://autoinsight.blogosfere.it/2007/09/alla-porsche-il-51-di-volkswagen-vi-charisco-lintrigo.html
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adrian 1:12PM (9/03/2007)
Could be a good move for Porsche if they manage it.VW does the heavy lifting in the development of various models, Porsche reaps the rewards by using VW technology. Maybe that's why VW does'nt like the idea. I think VW has become way to big, they need to sell off a few brands.
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Bill Hancock 1:50PM (9/03/2007)
VW is just the GM of Europe. Except they (for the most part) have a brand in each sector of the market, they have regular cars (think Jetta/Golf) Luxury (Bently and Audi) Sports (Lamborghini) and a few others thrown in there for good measure. They keep their cars in line with each other and dont go making a 100 thousand dollar VW save for the pheaton they keep in simple
SPG 2:07PM (9/03/2007)
Hopefully this will keeep Porsche making Porsche's and we won't get any more luxo trucks from them.
If they really want they can reskin a Cayenne and call it a Lambo SUV like the mules they have running tests.
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