The Bilingual Gringo
05-18-09, 10:57 AM
I wonder if Porsche isn't doing as good as they say they are
http://www.autoblog.com/2009/05/18/report-vw-cancel-merger-talks-with-porsche/
According both automakers, the Porsche-Volkswagen merger has been stalled after VW's management determined Porsche "is lacking several fundamental conditions for the discussions." According to a VW spokesperson, the rift stems from Porsche's inability to demonstrate how the two companies would be integrated, but neither automaker has elaborated on why the talks have stopped. Informed speculation suggests that between management changes, structural considerations and Porsche's $12 billion in debt, VW is becoming weary of the merger. Although negotiations were supposed to continue today, according to sources inside VW, it's unclear when discussions will resume.
http://www.autoblog.com/2009/05/18/report-vw-cancel-merger-talks-with-porsche/
According both automakers, the Porsche-Volkswagen merger has been stalled after VW's management determined Porsche "is lacking several fundamental conditions for the discussions." According to a VW spokesperson, the rift stems from Porsche's inability to demonstrate how the two companies would be integrated, but neither automaker has elaborated on why the talks have stopped. Informed speculation suggests that between management changes, structural considerations and Porsche's $12 billion in debt, VW is becoming weary of the merger. Although negotiations were supposed to continue today, according to sources inside VW, it's unclear when discussions will resume.