Porsche files for VW takeover

[Kor]

"Reuters is reporting that today, Porsche has politely asked the European Commission if it can take over Volkswagen. " --Autoblog

VAG no longer?

[100%VAGitarian]

Re: Porsche files for VW takeover

Pag!

[bart]

Re: Porsche files for VW takeover

nice, my favorite cars in one group. i think i want a gt3 as my daily sports car. rs4 as the "family" sedan to fit more people in, and r32 as a winter beater. all in black baby!

[R_Ethug]

Re: Porsche files for VW takeover

hahahaha thats pretty good bart

i'd go RS4 daily.. cayenee S as family and winter beater RS6 avant

[Canadian Turbo]

Re: Porsche files for VW takeover

Latest rumor is the Porsche is seeking ownership of 51% of VW. VW is also moving its NA headquarters from Michigan to suburban Washington DC.

After months of on-again, off-again rumors, Porsche is finally preparing to announce a 51 percent takeover bid for Volkswagen, two leading German financial publications have reported.

According to Germany's Der Spiegel magazine, Volkswagen is already buy options that will enable it to acquire additional shares at a predetermined price.

It's not known exactly how high Porsche's stake in VW will go, but both reports indicate it will cross the 50 percent threshold. Frankfurter Allgemeine Sonntagszeitung has estimate early 2008 as a timeframe for the move.

The implications of a takeover are not fully known. Previous reports have indicated Porsche has its own agenda for Bugatti, Lamborghini, and Bentley — all of which compete with in one way or another with its own offerings.

[bart]

Re: Porsche files for VW takeover

so porsche can afford to buy 51% of vw?? how is that possible... i know they have pricey cars but...

[Canadian Turbo]

Re: Porsche files for VW takeover

Well they already own somewhere around 30% and rumors say that Porsche makes more money per car than almost everyother car company, but they may finance it I am not sure.

[VWSM]

Re: Porsche files for VW takeover

Porsche is doing very well but VW is losing it's German reputation World Wide.
Can You Say Damage Control.
V.W (vehicle worthless)this breaks my heart.
i love the brand just bad management.

[Canadian Turbo]

Re: Porsche files for VW takeover

Porsche 51% Share of VW is Approved!

About one hour before the writing of this blog post, the entire supervisory board of Volkswagen Group approved the increase from the current 31 percent up to 51 percent of Porsche’s part of all Volkswagen Group assets. It works out to about 20 billion more dollars changing accounts and all of the other accountant magic that takes place at mighty times like these.

Porsche chairman Wendelin Wiedeking had mainly to get over the hurdle of the German workers union on the supervisory board vote, as factory labor fears for the dreaded efficiency-related changes to VW’s current way of doing business. It’s all in the game of hunting down Toyota to be worldwide production leader by 2015 or so.

So, our Porsche source tells us, neither Wiedeking nor other key board players will be present at the Porsche dinner tomorrow night. Looks like it’s back to Mickey D’s.

They add that the whole process of rearranging the big corporate switcheroo “could take a few months at least”.

[R_Ethug]

Re: Porsche files for VW takeover

interesting..