Porsche saved VW from takeover

Porsche's chief executive, Wendelin Wiedeking, told Der Spiegel in an interview that he guaranteed his company broke up a possible deal for some investment bankers that were mobilizing to gain control of Volkswagen. The deal that saved VW from this fate resulted in Porsche now owning more than 20% of the German company. Mr. Wiedeking projects a calm, understated attitude towards Porsche's new property, stating that there is no rush to place Porsche representatives on VW's board before the company's general meeting on May 3, 2006.