Contracts finalizing the merger of Vw and Porsche delayed
By Andrew C., 26 Aug, 2010. 0 Comments
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Rushing is never good, especially when it concerns the merger of two of the most famous car brands in the world. Apparently, both Porsche and Volkswagen have come to a consensus not to hurry the merger to ensure that their respective interests are considered. The delay is not because of a disagreement between the two, but rather due to a number of details that need to clarified before moving forward.
It was initially predicted that the two VW officials, Martin Winterkorn and Hans Dieter Poetsch, will take their new office in the middle of September. However, a Volkswagen spokesman told Financial Times Deutschland, that it will definitely be later than that. Bernd Osterloh, VW's works council head, told Reuters, that the merger should consider the interests of both carmakers and, most importantly, the financial health of Volkswagen shouldn't be damaged by the rapid integration of Porsche.
As soon as the final details to the merger agreement are drafted, signatories will include Winterkorn and Poetsch, representing Porsche, and CEO Michael Macht and deputy CEO Thomas Edig will represent Porsche.
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