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
  • From Our Partners

    You May Like
    Links by Zergnet
    Share This Photo X