Volkswagen/Proton on-again, off-again deal back on again?
Late last year reports first surfaced that Volkswagen was interested in taking a controlling interest in Malaysian car maker Proton. But by March the talks had apparently broken down. Now for the first time Volkswagen has actually made a statement about Proton. Volkswagen is picking up the pace in talks with the Malaysian government who happens to be Proton's controlling shareholder. VW officials will meet with government officials in the coming weeks about how to proceed. The result could be either a takeover or just a partnership.
[Source: Volkswagen]
Volkswagen intensifies talks with Proton
Wolfsburg, 07 September 2007 - At its meeting today, the Supervisory Board of Volkswagen Aktiengesellschaft was informed about the status of talks regarding the Malaysian automaker Proton Holdings Bhd.
These talks with Proton's majority shareholder and the Malaysian Government will now be intensified further to investigate the possibilities for cooperation with or participation in Proton. Volkswagen's objective is to further strengthen the Company's presence in the South-East Asia region.
To this end, a top-level meeting between Volkswagen and the Malaysian government to discuss further steps is scheduled to be held within the next few weeks.
Reader Comments (Page 1 of 1)
ANdy 1:43PM (9/08/2007)
I hope it'll be a takeover but I know that's wishful thinking, knowing the government won't cede control, even with the prospect of decent cars that can actually compete on the world market (and indeed nationally without the need for preferential taxes). Just look at what VW did with Skoda.
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