Volkswagen Stops Merger Talks with Porsche
News hit today of a halt in talks between Porsche and Volkswagen merger plan. Strangely enough, it was VW who put a stop to things for now. According to a Volkswagen’s spokesperson, “We recognized…Porsche is lacking several fundamental conditions for the discussions” – essentially, Volkswagen’s shareholders are contending that there’s not enough synergy between the two companies to make a merger successful the way it is currently set up. There’s apparently been mounting pressure to name Volkswagen’s CEO, Martin Winterkorn, the leader of the merged company, which likely doesn’t sit well with Porsche.
Porsche is scheduled to meet today to discuss the recent breakdown in negotiations.
Aug 27th, 2009 at 7:14 am
[...] has spent the last year attempting to accomplish two things – make a deal with Porsche and build a new 3-door hatchback. Well, they certainly achieved their second goal. The 2010 VW Polo [...]