BATTLE FOR PORSCHE

In Germany, Focus magazine reported on Saturday that the Porsche and Piech families, which control Porsche Automobil Holding SE, were set to decide on a possible sale of Porsche AG and its eastern European dealer network to Volkswagen in a move to cut Porsche's holding company's debt.
But Wolfgang Porsche, head of Porsche's supervisory board told the Frankfurt Allgemeine Sonntagszeitung (FAS) on Sunday that Porsche would not be sold to Europe's largest carmaker.

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hmm, I thought Porsche was buying Volkswagen????!!!

Porsche AG does own 51% of VW. This is not the engineering firm or the Automobile manufacturing firm. It is a holding company.
Further, "Wolfgang Porsche, head of Porsche's supervisory board told the Frankfurt Allgemeine Sonntagszeitung (FAS) on Sunday that Porsche would not be sold."

Therefore, the original report was mistaken. Everyone relax.

The yahoo.com link doesn't work for me...

This happened two years ago.

Zach

Yeah, sorry about that. My cars mailbox has 2500+ messages. I can't even tell when I'm reading old messages.

BUT-
I recently read that they are selling the Austrian VW dealership franchise that goes all the way back to Louise Peich. It has been the companies cash savior many times, but they gotta sell to pay out 11 B euro loans- something like that anyway.

I dont' know if this is up-to-date, but it doesn't make it much easier for me to comprehend the relationships of all these companies.

Funny how businesses do this. Entertainment empires do the same thing. The go through years where the acquire this comany or that company, citing "efficiencies" in getting larger and owning more revenue streams.
Then, years later, they decide to divest of those same companies, saying they need to concentrate on their "core business."

So go ahead, merge, acquire, divest, whatever. Just keep making the dang cars.

Porsche quit making cars worth a dang to me in the 1970's

For those who understand german there was a video on the Franco / German Channel ARTE this week. It's an excellent video, I learned a lot. You should be able to watch it for seven days. It tells the story of Porsche / Piech fight for the control of Porsche.

http://videos.arte.tv/de/videos/das_duell_...en-3631858.html

BTW someone posted it on youtube


https://www.youtube.com/watch?v=0t8AfkFZ_9o


...

Damn, that's one Loooooong video!