We'll all be driving Volkswagens soon!

[akwaugh]

I read an interesting article in the FT this morning which went along the lines of :

Porsche are on a sticky wicket when it comes to actually taking over VW due to state interference and a lack of hard cash. Apparently Porsche would have to find and fund E9 billion to make the deal stick. Given the current economic climate - so we're told anyway - this is practically impossible.

This being the case, and VW actually having such a pile of money, it would make more sense for VW to buy Porsche, handing the Porsche family around E5 - 9 billion. This reverse takeover would still effectively hand control of the group to Porsche (I think) but it gets a little convoluted for me at this point.

The article can be found on FT.com and there are a few others which are worth looking at around the past couple of days. Use the search box.

http://www.ft.com/cms/s/0/1cde64c4-2f9f-11de-a8f6-00144feabdc0.html

The net result is that we'll all be in Volkwagens soon.

Thought that news would make your weekend!

(Especially after you all getting caught - but not admitting it - by Bill's camera wheeze)

Andy

 

[poprock]

Didn't the press combine this with the "˜proof' that Porsche's CEO was not present at the recent Panamera launch in Shanghai, but VW's CEO was? Bit tenuous, that one.

 

[clyde]

I saw this ealier in the week, I didn't understand it then and still don't.

Or do I? Is this just a legitimate way of moving VW's money (and there is a lot of it somehow) into the Porsche family coffers? They would, presumably, have to vote for the reverse takeover or it wont go through as they are currently majority shareholders of VW (via the holding company). They would also appear to be the majority shareholders (again via the holding company) regardless of which company was taken over by the other but with more personal wealth if VW buy out Porsche.

Am I just too damn cynical, am I missing something or is the last great family owned car company being sold down the river?