Volkswagen is picking up the pace in talks with the Malaysian government who happens to be Proton's controlling shareholder. VW officials will meet with government officials in the coming weeks about how to proceed. The result could be either a takeover or just a partnership.
Volkswagen intensifies talks with Proton
Wolfsburg, 07 September 2007 - At its meeting today, the Supervisory Board of Volkswagen Aktiengesellschaft was informed about the status of talks regarding the Malaysian automaker Proton Holdings Bhd.
These talks with Proton's majority shareholder and the Malaysian Government will now be intensified further to investigate the possibilities for cooperation with or participation in Proton. Volkswagen's objective is to further strengthen the Company's presence in the South-East Asia region.
To this end, a top-level meeting between Volkswagen and the Malaysian government to discuss further steps is scheduled to be held within the next few weeks.