Porsche and Volkswagen AG are going to merge

[phaeton]

Sights set on integrated automotive group

Wolfsburg, 06 May 2009 - Volkswagen Aktiengesellschaft welcomes the decision by representatives of the Porsche und Piëch family shareholders to create an integrated automotive group in which each of the ten brands will retain its independence.


During the next four weeks, a joint working group whose members will come from Volkswagen and Porsche will consult intensively with the State of Lower Saxony and the workforce at both companies to prepare the basis for a decision on the future structure. The Board of Management of Volkswagen Aktiengesellschaft will do everything in its power to support this process.

[Coaster]

Porsche and Volkswagen to merge and create auto giant

[Guest212]

this is quite epic.

[Jayse]

http://www.wheelsmag.com.au/News/Sle...ullarticle=yes

Interesting times ahead...

[Dubdabest]

Porsche is now having some financial trouble from exposing themselves in too much debts for buying up the VW shares. We could see this as a reverse "takeover" by VW to put the Porsche brand under the joint-company

[vipergreen]

Talks are now in a halt because Porsche hasn't met the pre-conditions for the sale:

"Porsche does not have a strategy for a possible integration of the two companies and has to sort out internally where it is headed", VW said.

Also seems that Porsche is having some fundraising problems.

http://www.cnbc.com/id/30797929

[EUS GTIMK5]

VW TOUGH ON PORSCHE
VOLKSWAGEN chairman Martin Winterkorn is playing hard to get with Porsche – the company’s main shareholder – as doubts grow about how, or even whether, Porsche can service its €9 billion ($A15.9 billion) debt.
Porsche has had to scramble to reassure investors that it can handle the debt, after stalling in its bid to acquire a 75 per cent stake of VW. Porsche is now considering a share issue to raise new funds. Porsche directors claim its healthy sportscar business still earns enough to make interest payments on the debt, but according to Der Spiegel magazine, Porsche is talking with German state bank KfW about a €1 billion loan.

Looks like the GFC might be hurting Porsche.