• May 11, 2009
Porsche's merger with Volkswagen is a step back from Porsche taking outright control of VW, something the automaker has been fighting various German entities to do for over a year. The willingness to co-exist is being put down to Porsche's debt levels, which can't be easy to refinance when banks are holding on to their money like a toddler guarding his last chocolate Easter bunny.

According to reports, the ten brands comprising the conglomerate will maintain their independence and might be presided over current Audi CEO Rupert Stadler. The state of Lower Saxony – the power behind the infamous Volkswagen Law – has a 20 of the new company, even though it's wary of the financial risks of the merged firm. Another investor could buy 25-35.

While Deutsche Bank and Goldman Sachs continue to play with the options, negotiations between Porsche and VW are scheduled to begin this week.

[Source: Auto News, sub req'd]


I'm reporting this comment as:

Reported comments and users are reviewed by Autoblog staff 24 hours a day, seven days a week to determine whether they violate Community Guideline. Accounts are penalized for Community Guidelines violations and serious or repeated violations can lead to account termination.


    • 1 Second Ago
  • 6 Comments
      • 5 Years Ago
      i love porsches too, but there seems to be some over-passionate porsche-huggers making a huge deal out of my simple comment.
      • 5 Years Ago
      yes... cause based on that photo... everyone can tell if it's a new Porsche, or an old one, or a used Porsche painted by Discount Shoes and Paint Jobs.

      Automatically Porsches suck... of course.... All hail Toyota or anything JDM.
      • 5 Years Ago
      Great photo, crappy orange peel!