VW has halted partnership talks with Porsche
By Andrew C., 26 Aug, 2010. 0 Comments
It was reported recently lately that VW has halted partnership talks with Porsche because, according to VW, Porsche is not ready for a merger at this time. There were plans today for a meeting between the two carmakers due to Porsche‚ difficulty in settling loans that it took to build up its shareholding position in VW. Reports are saying that the talks were cancelled. VW said that Porsche lacks a number of essential conditions for the talks, saying that Porsche has not provided crystal clear idea of how it will come up with a restructuring as a result of the merger. Even though Porsche owns more than half of VW it is still struggling to gain influence in the proposed merger because of its large debts. There are talks suggesting that no matter what shape the merger will take, the resultant merged company will be run from the base of VW and under the care of its present officials.
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