Porsche denies reports regarding Vw sale
By Andrew C., 26 Aug, 2010. 0 Comments
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Porsche seems to be in a stormy period with VW constant pressure for a merge even though they own the majority of 51% stake. Due to its big financial problems Porsche is a perfect victim for speculations and rumors such as the recent reports of the German media which claim that Porsche received at least 5 offers for its VW stake and that they are quite interested in selling their share soon. They would really need some funds since some while ago an important German politician declared that the famous company is very unlikely to receive any more money from the state banks. He confirms that the primary reason for not getting any more state funds is the high amount of state loans that Porsche accumulated. The reports also say that an important meeting would be set up these days between Porsche‚ board representatives and a bidder from Qatar interested in taking over a stake. Until we find out the final decisions of Porsche, the company's spokesman denied all the rumors and reports regarding the different offers received.
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