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.

By John Neff
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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.