Porsche owned by VW
05-19-2009, 12:11 AM
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8th Gear
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Porsche owned by VW
Interesting article in today's CBS Marketwatch website about Porsche's machinations to purchase a controlling interest in VW Group coming home to roost. Apparently, Porsche is now billions in debt from buying VW stock, talks with VW have been suspended (according to VW) and the upshot may be that VW will own Porsche, rather than the other way around: "Porsche may have to sell its core car business to VW at a rather low price."
This news will only enable the conspiracy theorists who have long maintained that the 997 headlights look like they came off the Beetle.
This news will only enable the conspiracy theorists who have long maintained that the 997 headlights look like they came off the Beetle.
05-19-2009, 03:40 AM
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Three Wheelin'
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I suspect that there are more twists to it...
Porsche Holding sells Porsche AG to VW Group, yet Porsche Holding still owns more than 50% of the VW Group. Hmm...
Regards,
Porsche Holding sells Porsche AG to VW Group, yet Porsche Holding still owns more than 50% of the VW Group. Hmm...
Regards,
