German Magazine Auto Sport reports today that Porsche is prepared to obtain controlling interest of VW.
With last weeks ouster of VW CEO Bernd Pischetsrieder, followed the resignation of Wolfgang Bernhard VW Brand manager. The time appears to be ripe for Porsche to make its move.
According to Auto Sport Porsche it is prepared to purchase up to 29.9% of VW shares to gain control of the automotive giant Porsche will be careful not to exceed the 30% mark, for if it does it will have to pay an additional compensatory sum to all remaining share holders. The 29.9% goal will make Porsche the card holder for influence of future products and development.
VW and Porsche have a long history of sharing technology and production facilities for several past and present models. VW remains an extremely import supplier of content and technology for Porsche products to this date and these moves will secure industrial and development assets for Porsche long term.
Full 2006 SEMA Auto Show Gallery link
2006 SEMA Auto Show Photo Gallery
We've also added more photos to our Paris to Bejing rally photo gallery so be sure to check them out!
Mercedes-Benz Paris to Bejing Photo Gallery
More photos in our show photo galleries...
AutoSpies.com Photo Galleries
Read Article