Takeover battle set to end as two firms agree to go into partnership
7 May 2009

Porsche's long-running battle to take control of the Volkswagen Group appears to be over after the two sides agreed yesterday afternoon to try to merge instead.

The German sports car manufacturer has been building up its stake in troubled VW for months - it currently owns around 51 per cent of shares and has been aiming for 75 per cent - but internal conflicts over the debts racked up during the process are said to have forced the Porsche board to consider a more amicable merger instead.

"Ten brands shall stand below an integrative leading company," said Porsche, referring to its brand's position alongside the Volkswagen Group's current line-up of VW, Audi, Seat, Skoda, Lamborghini, Bugatti, Bentley, Scania and VW Commercial Vehicles.

The fine detail of the merger has yet to be revealed, but VW and Porsche expect to formulate the new structure within the next month. The discussions will include input from the Lower Saxony government, which still owns a 20 per cent stake in the VW Group and has a veto over strategic decisions.

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • Jaguar XF Sportbrake TDV6
    First Drive
    19 October 2017
    The handsome Jaguar XF Sportbrake exhibits all the hallmarks that makes the saloon great, and with the silky smooth diesel V6 makes it a compelling choice
  • Volkswagen T-Roc TDI
    First Drive
    19 October 2017
    Volkswagen's new compact crossover has the looks, the engineering and the build quality to be a resounding success, but not with this diesel engine
  • BMW M550i
    First Drive
    19 October 2017
    The all-paw M550i is a fast, effortless mile-muncher, but there's a reason why it won't be sold in the UK
  • Volvo V90
    First Drive
    19 October 2017
    The Volvo V90 is a big estate ploughing its own furrow. We’re about to see if it is refreshing or misguided
  • Kia Stonic
    First Drive
    18 October 2017
    Handsome entrant into the bulging small crossover market has a strong engine and agile handling, but isn’t as comfortable or complete as rivals