vw sellling?
This just came to my attention, I work at BMW now, but still….any thoughts? p.s. paul I tried to provide the link but it was sent to me in Adobe Acrobat….can I attach it somehow? Maybe soon there will be one German Automaker….DaimlerBavarianVolkswagenPorscheChrylser AG!!!!
FRANKFURT, SEPT 30(REUTERS)- German carmaker DaimlerChrysler wants to buy a stake of around 20 percent in Volkswagen, German magazine Focus reports Friday, citing supervisory board sources. A board source at Saimler told Reuters that ther were no plans to buy the stake, and Called the report “”pure speculation”". VW declined to comment on the report.
According to the report, outgoing chief Juergen Schrempp was in favor of the idea but left the final decision to successor Dieter Zetsche, who wants to complete the deal by March of 2006. Talks are already at an advanced stage.
The Focus report comes on the heels of Sundays news that German luxury brand Porsche aims to buy a 20 percent stake in VW to prevent a hostile takeover of Porsche by VW threatening the carmakers business ties.
Focus also reported perhaps VW would buy a small share in DaimlerChrysler, forming a cross-holding, though these reports were denied.
“”Volkswagen raised the subject many times in the past but it never led to a result”" said a Benz spokesperson. “”There are areas where research and development where it makes sense for us to partner up and split costs”", he continued, citing hybrid collaborations between Porsche and VW and Toyota, and diesel talks between VW and Mercedes, and other talks of sharing between BMW, Mercedes and General Motors.
Post edited 09/30/05 1:02 PM by jasenm
Post edited 10/11/05 3:58 PM by jasenm
