Porsche: Not Planning VW Takeover
Posted 18th November, 2006 in Porsche, Volkswagen | Leave a comment
According to German publication – Focus, Stuttgart car manufacturer, Porsche are not planning to take full control of Volkswagen.
Porsche’s Ferdinand Piech (who is also a chairman of the Wolfsburg company), has informed other board members at Volkswagen, that he has no intention of taking them over. Porsche, apparently feel that there would be too much of a financial risk involved.
Christian Wulff of Lower Saxony, (the second biggest shareholders in volkswagen) said “There must finally be an end to the power games.”
He added “Large shareholders like the state of Lower Saxony and Porsche shouldn’t compete for the supervisory board leadership, in my view.”
[Source: Reuters]
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