Volkswagen: Takeover of Malaysia's Proton?
According to Inside Line Volkswagen is preparing to make its biggest acquisition since it bought Skoda 15 years ago. Target this time could be Proton, the brand which also owns Lotus and its famous Elise.
The target is Malaysia's state-controlled automaker Proton. Discussions between the two companies were confirmed this week by Malaysia's former prime minister Mahathir Mohammed, an adviser to Proton. "If we want to, we can sell more than 50 percent to Volkswagen," he said. "They are quite willing, I think, to buy even 100 percent."
Mahathir said "many other companies" would be interested in Proton, but the biggest fear was that if they took over the firm, they might end production of Protons and assemble their own cars instead. VW has already announced plans to assemble the Passat sedan in Malaysia this year with Proton, and the subcompact Fox from 2006.
Source: Inside Line
Watch more TV. The German Car TV.
Read more
by Christian @ 1:42 PM Linking Blogs
