Porsche, Volkswagen: Merger talks!

Thursday, May 07, 2009

Porsche, Volkswagen: Merger talks!

The takeover of Volkswagen by Porsche has officially been stopped and the parties are now in merger talks instead, creating an automotive giant with 10 brands!

Automotive News Europe reports today that Porsche and Volkswagen have finally cleared the way for combining their brands under a single operation. The new carmaking group would have no less than 10 brands under one roof, though the "independence of all brands and explicitly also of Porsche shall be ensured." VW will be bring its nine brands to the table, while the Porsche brand itself would be contributed by Porsche Automobil Holding SE, the separate holding company owned by members of the Porsche and Piech families.