• 2
Volkswagen's second-largest shareholder, the German state of Lower Saxony, has the final say on the proposed Porsche-Volkswagen merger, and according to a spokesperson for the state's prime minister, Christian Wulff, the new company birthed from the union should be open to outside investors.

Currently, Porsche maintains 51% of VW's voting rights, with Lower Saxony coming in at 20% and miscellaneous investors comprising the final 29%. According to the state's spokesperson, "At the end of the day it could look like this: Porsche owns 50%, Lower Saxony 20% and free float investors 30%." Obviously, Lower Saxony's stake would remain the same – exactly as the local government leaders prefer. As previously reported, talks between the two automakers stalled over the weekend, and no new schedule has been set for the negotiations to continue.

[Source: Automotive News – Sub. Req.]

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 Years Ago
      On the contrary, as recently as the 15th of APril the EU has said it is considering stepping up legal action:

      Germany has the largest population and GDP, but that doesn't justify cheating. "special deals" is a little vague. sure, you can expect a return which is proportional to what you put in, but that's about it. cheating isn't part of it all. furthermore the European Union is just that, a "union". in order to be part of a union, you have to know how to work others (without cheating, but that should be obvious, right?)

      There are countries which have a very good track record in cooperation with others, and there are a very few for which this is impossible, and have no JVs with anyone. The Germans have a JV with France in terms of EADS, and that's pretty much it. But this is an example, unfortunately, of continuous infighting and catastrophic project delays. The A380, for which final assembly takes place in Toulouse, suffered horrible delays because of harness issues which were a German responsibility.
      Currently the A400M may be completely cancelled (it has now accrued delays of over 4 years) and the problem has been pinpointed on the FEDAC software, an MTU (Germany) responsibility. Europe's most strategic project, Galileo, has seen outrageous delays and cost overruns becuase of German mismanagement (Astrium Germany component of Galileo Industries) and because the on-board computer of the test spacecraft Giove-B, blew up three times in the final stages of integration. This on-baord computer was German, and was selected purely for political reasons ("a special deal") when European spacecraft normally have on-board compters from SES (Sweden) or Laben (Italy). The Daimler-Chrysler story had as much to do with technology as it did with a certain kind of mindset.

      EADS may be the only real JV in which Germany has a say in, but what about other countries? JVs between France and Italy, for example, include STMIcro (EUs largest chip manufactuer), ATR (largest turboprop manufacturer), DCN-Fincantieri (Europe's largest naval co-operation), Irisbus (buses), Alstom-Ansaldo(trains), Thales Alenia Space (EU largest space industry)

      Puitting "special deals" aside for a moment, what happens when Germany has zero participation in EU projects? If you look at NEURON (the European UAV), Vega (the new European launcher), FREMM-Horizon (EU largest naval programme ever), Pleiades-Cosmo (the EUs largest satellite earth observation program) the answer is quite clear: they are enormous successes (and the opposite of Galileo, A380 or A400M)

      If you look up the meaning of "union" it should be clear that while Germany is a member state, the EU has no future.