It looks like Porsche's aggressive advances at Volkswagen are less than welcome by Volkswagen's management. Its CEO, Martin Winterkorn, has warned Porsche to keep its mitts out of operations, saying that he will resign his position if there's interference. Winterkorn isn't alone in his agitation, as Der Spigel reports Audi managers are concerned that Porsche will go a-meddling in Ingolstadt once its stake increases above 50 percent. Though VW, Audi, and Porsche are all cousins of a sort, Audi's
- Erin Mays
- Jun 23, 2006
Porsche AG is on its way to becoming a blocking minority stakeholder in Volkswagen AG, attempting to raise its stake in the struggling automaker by 3.9 percent of total shares to a total stake of 25.1 percent. The only thing standing in its way at the moment is clearance from the German Cartel Office.
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