Porsche to take control of Volkswagen on Nov. 26th
10-08-2008, 09:10 AM
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Porsche to take control of Volkswagen on Nov. 26th
Porsche AG CEO Wendelin Wiedeking has been rumored to be in preparation of taking ownership of Volkswagen at it’s November 26th board meeting.
Wiedeking has been talking about taking a substantial interest in VW that will put Porsche’s ownership stake over 50% in the company.
Over the past few months, Porsche has received permission from the German government to buy a substantial stake in Volkswagen. From the outside the deal looks like a strategic step-by-step buyout, leaving Porsche in charge of the whole company.
Wendelin Wiedeking has troubles currently on the union front with the factory workers. It’ll be interesting to see how he deals with the situation in Lower Saxony.
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Wiedeking has been talking about taking a substantial interest in VW that will put Porsche’s ownership stake over 50% in the company.
Over the past few months, Porsche has received permission from the German government to buy a substantial stake in Volkswagen. From the outside the deal looks like a strategic step-by-step buyout, leaving Porsche in charge of the whole company.
Wendelin Wiedeking has troubles currently on the union front with the factory workers. It’ll be interesting to see how he deals with the situation in Lower Saxony.
More...
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