Martin Winterkorn, the CEO of both Volkswagen AG and Porsche Automobil Holding SE, confidently stated that the $2 billion lawsuit initiated by several US hedge funds has not disrupted the integration of Porsche SE into VW.
He asserted that VW will “stick to the (2011) timetable for the integration of Porsche.” After Porsche SE botched a planned takeover of the VW Group, it was compelled to go to VW for a bailout after incurring over 10 billion euros in debt.
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