Porsche Casts Doubt Over Volkswagen Merger

Porsche Casts Doubt Over Volkswagen Merger
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Porsche is looking increasingly unsure over a potential takeover by Volkswagen, which currently holds a 49.9-percent stake in the sports car maker.

Porsche Automobil Holding SE is the company that holds the 50.1% majority of Porsche AG, the manufacturing arm that actually builds the cars. But Volkswagen is looking to exercise an option that allows them to take over the other half, without going through Porsche SE first. As a result, Porsche is now scrambling to attract investors as an independent entity, while trying to avoid a potential merger.

“We cannot say with certainty which approach Porsche SE will take,” said Porsche finance chief Hans Dieter Poetsch.

The original merger was scheduled for the end of 2011, but due to legal troubles there’s only a 50% chance of that still happening.

Porsche was once the last independent sports car manufacturer (next to, say, Morgan); can they foist off their potentially messy Volkswagen invasion?

[Source: Automotive News Europe]