QUOTE
A special meeting of the Porsche and VW boards and key shareholders in Austria gave four weeks to agree a tie-up
Times Online
Porsche and Volkswagen (VW) agreed last night to form a merged German car group, but emphasised that the sports car company would retain its independence.
A special meeting of their boards and key shareholders in Salzburg, Austria gave four weeks to agree a tie-up.
Porsche, which had been seeking to take control of VW, said that the announcement came after weeks of intensive talks.
The group added that it was now arguing for the creation of an integrated car manufacturing group which will now have 10 separate marques united under one roof, ranging from Audi, VW and Porsche in Germany to Czech maker Skoda, Seat in Spain, Lamborghini in Italy, Bentley in Britain and Bugatti.
Volkswagen issued a separate statement hailing the decision of the Porsche and Piech families, owners of Porsche group, to forge a merger.
Times Online
Porsche and Volkswagen (VW) agreed last night to form a merged German car group, but emphasised that the sports car company would retain its independence.
A special meeting of their boards and key shareholders in Salzburg, Austria gave four weeks to agree a tie-up.
Porsche, which had been seeking to take control of VW, said that the announcement came after weeks of intensive talks.
The group added that it was now arguing for the creation of an integrated car manufacturing group which will now have 10 separate marques united under one roof, ranging from Audi, VW and Porsche in Germany to Czech maker Skoda, Seat in Spain, Lamborghini in Italy, Bentley in Britain and Bugatti.
Volkswagen issued a separate statement hailing the decision of the Porsche and Piech families, owners of Porsche group, to forge a merger.
Link to article
So uhm... does this mean recession is hitting big car companies too?
