Monday, March 26, 2007

Porsche bidding for Volkswagen

According to a report in the International Herald Tribune, Porsche, the German sports-car maker is going to make a takeover bid for Volkswagen, Europe's largest carmaker.

In order to do this Porsche will increase it's existing stake in Volkswagen to 31% from 27.3%, because German law requires a company to own more than 30% of shares before it can make a takeover bid.

Previously, the two companies had collaborated in the making of the VW Touareg and the Porsche Cayenne.

Read the full report here.

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1 comment:

Volkswagen Direct Blog said...

The EU-carbon targets will put porsche out of business and the only way to combat that is to aquire volkswagen which makes fuel-efficient diesels. This maybe one of the main reason behind this aquisition attempt... Though this is also one good weapon for VW to fight Porsche in taking over... But I know that this is not good enough because of VW's low quality in some of their products and accessories such as vw rubber floormats, vent visor, etc...and in addition to injuries, their low customer satisfaction will pull them down to Porsche hands..

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