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Porsche, Volkswagen set for merger showdown

Posted Monday, Jul 6, 2009, 11:53 am in Employee News

Porsche’s squabbling owners are set to discuss an investment by Qatar in the next two weeks, a milestone that could change the dynamics of a Porsche-Volkswagen merger, people close to the talks told Reuters.

A decision on Qatar’s entry may come even before key family members are set to gather at a Volkswagen supervisory board meeting on July 15, people told the news service. A day later, VW’s luxury unit Audi holds its centenary celebrations, the story said.

A successful investment from Qatar could strengthen Porsche CEO Wendelin Wiedeking’s negotiating hand as he tries to strike a deal with VW, Reuters said. Without it, Porsche will struggle to prop up its finances and may have little choice but to succumb to a reverse takeover from VW, Europe’s biggest carmaker, the story said. (Reuters/Automotive News)
 
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