CEO Martin Winterkorn said that Volkswagen AG would need to delay a merger with Porsche SE that’s expected to be completed next year. VW said that risks from US lawsuits and German tax issues should be resolved first.
Winterkorn, who is also CEO of Porsche's holding company, said that the legal proceedings “may drag on for some time to come until a final decision is reached.” As a result, the planned merger might be delayed as the company is still facing a tax-related hurdle and several legal obstacles.
Read Article