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Porsche/VW Drama Reaches Climax

Posted in auto industry, General, Legal, Newsworthy, Porsche, Volkswagen by Geoff | July 8th, 2009 | 1 Response |
VW/Porsche Prototype From Less Stressful Times

VW/Porsche Prototype From Less Stressful Times

The on-going feud between the families behind Porsche and VW continues to spill into the business dealings of the two companies. Both Porsche and VW have angled for the better part of four years to be in a position to acquire a controlling interest in the other German automaker. Now Porsche appears to have a backer from the Mideast willing to fund their next coup attempt.


The management teams of Porsche and Volkswagen will meet in the next two weeks to discuss an investment by the Qatar sovereign wealth fund with the aim of strengthening Porsche’s bid to takeover Volkswagen. Porsche CEO Wendelin Wiedeking has been pursuing control of VW since 2005 when he first bought a stake in the larger company. That strategy fell apart last Fall when the global economy evaporated and Porsche (along with much of Wall Street) without the cash to finance its acquisition of VW.

VW May Turn Tables On Porsche

VW May Turn Tables On Porsche

The dealings between longtime rivals Porsche and VW have been acrimonious to say the least. The VW supervisory board chairman is Ferdinand Piech, the great grandson of Ferdinand Porsche. His family is also part of the controlling stakeholders in Porsche. At one time, it was believed that Piech and Wiedeking were working towards a Porsche move to acquire VW. But in recent months, Piech has been openly critical of Porsche’s moves and its excessive debt.

If he chooses, Piech, as a significant Porsche shareholder, can, can block the Qatar investment. Qatar is looking for voting shares in Porsche in exchange for investing billions. Up to now, the Porsche and Piech families have controlled all the voting shares.

Soooo……it is likely if the Qatar investment doesn’t go through, there is the strong likelihood that Wiedeking will be removed as CEO and that Porsche will be absorbed by VW.

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One Response

  1. chris tyson says:

    I think both Porsche & VW are a disgrace,they both want their heads banging together.They should remember that Professor Porsche dedicated his life to the cause of precision engineering and innovation and they would have nothing if it wasn’t for him.
    Both company images are being badly damaged particularly Porsche and those Directors are not fit to hold office by letting family fued’s risk everything.This is not just a fiasco it is a disaster,and thousands of jobs are being risked all around the world.
    I am a Porsche fanatic and very annoyed at this,as you may have realised by now,
    Any goodwill has long gone,
    Chris Tyson