VW is now a daughter of Porsche

[vr6-88]

http://www.msnbc.msn.com/id/26734849/

[mike]

Being a majority share holder, and owner are two different things. This is good IMO, Porsche has a great track record, when they built the Cayenne, they paid for the factory, and land in cash. They may be able to turn some stuff around that has been in neglect such as quality and build costs.

[vr6-88]

Being a majority share holder, and owner are two different things. This is good IMO, Porsche has a great track record, when they built the Cayenne, they paid for the factory, and land in cash. They may be able to turn some stuff around that has been in neglect such as quality and build costs.

Of course Porsche is not (yet) the owner of VW.
But the plan (porsche's) plan is clearly that. Besides taking more than 35% and making VW a subsidiary there is another thing going on.
After world war II when VW became a stock company (VAG) a law known as the VW law was introduced. This law guaranteed that no shareholder could have more than 20% of suffrages even if the shareholder has the majority of stocks. Therefore absorbtion and relocation of the company headquarter could be prevented.
The EU is now Questioning this law and Porsche is just waiting for the law to be pronounced dead.
That is when lay off's and restructure will beginn.
The fact that the state of lower saxony holds shares of 20% is protecting VW as a VOLKSwagen. If that changes we will see alot of changes that maybe good for a car but definately not for Germany.

[wikedgolf]

Is it really over? Porsche has announced today that they've acquired a majority stake in Volkswagen by increasing their share from 31% to 35%. Under German law, Volkswagen is now a subsidiary of Porsche Automobil Holding. By law, Porsche is now required to submit a formal offer to buy Audi, a Volkswagen subsidiary, as part of the new shareholder structure. Porsche CEO Wendelin Wiedeking said in a statement that Porsche has no intention of letting Audi go and will make an offer at a minimum price of about 487 Euros per share.

Source: http://wot.motortrend.com/6297879/industry-news/porsche-takes-control-of-vw-makes-bid-for-audi/index.html

[kyyle_m]

humm!! i wonder what they will come out with if it goes through!

[PhätTony]

Hmmm...V6 TT 3.0 S4? Hmmmmm?

[v2rocket]

audi TT with a 450 hp boxer engine? YES PLEASE!

[carcrazy699]

hopefully a better r8 than can smoke the c6 corvette z06