Porsche to takeover Volkswagen by end of November
Porsche has been running into problems with its merger with Volkswagen: unions aren’t appeased; Lower Saxony (minority shareholder) doesn’t want the merger; VW staff is reluctant to share technology; etc. So, in true blitzkrieg fashion, Porsche is going to make all those problems insignificant by gaining an absolute majority by November 26. Although there have been no reports of how big Porsche’s stake will be, it takes over 50 percent to get the absolute majority.
Will this make their problems go away? Doubt it. But what it will do is let everyone in Wolfsburg know who’s the boss.
Source: Automotive News Europe