VW to buy Porsche?? Wait... What???
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VW to buy Porsche?? Wait... What???
http://news.bbc.co.uk/1/hi/business/8165524.stm
If anyone is wondering why we would care or is not up to date, Porsche just bought 51% of VW and basically went broke in the process. Now apparently VW is trying to buy the company that bought it...???? LOL What's mostly hillarious is that they're both owned by different parts of the same family OH GOD MY HEAD.
Here's a flowchart if you'd like to keep up with what this actually means:
http://upload.wikimedia.org/wikipedi...G_Alliance.svg
Europe's biggest carmaker, Volkswagen (VW), plans to buy German sports car firm Porsche in stages while retaining the latter's independence.
VW says its board will hold talks with Porsche "in order to reach a final concept fulfilling this goal".
Both sides had earlier said they wanted to form an integrated automotive group.
The latest move comes after Porsche's chief executive Wendelin Wiedeking and financial director Holger Haerter had resigned "with immediate effect".
Mr Wiedeking had failed in his long-running attempt to take over VW, despite Porsche building a 51% holding in the company.
Porsche had hoped to build up a 75% stake, but the financial crisis and the slump in the global automotive sector put paid to its efforts, which in the end saddled the sports car maker with huge debts.
VW says its board will hold talks with Porsche "in order to reach a final concept fulfilling this goal".
Both sides had earlier said they wanted to form an integrated automotive group.
The latest move comes after Porsche's chief executive Wendelin Wiedeking and financial director Holger Haerter had resigned "with immediate effect".
Mr Wiedeking had failed in his long-running attempt to take over VW, despite Porsche building a 51% holding in the company.
Porsche had hoped to build up a 75% stake, but the financial crisis and the slump in the global automotive sector put paid to its efforts, which in the end saddled the sports car maker with huge debts.
Here's a flowchart if you'd like to keep up with what this actually means:
http://upload.wikimedia.org/wikipedi...G_Alliance.svg
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What most people don't understand is, the VW/Audi/Porsche/Bugatti cluster has been trading parts and working together for 30+ years.
Its no big deal, VW will buy them out, but they don't make internal changes.
Its no big deal, VW will buy them out, but they don't make internal changes.
this is a totally different case!! actually cingular purchase att and rename themselves att due to higher market awareness!! because cingular (pacific bell wireless) have all the right to use and control any part or att!! including their trade mark!
as for VW and porchse!! it is like whoever own the highest shares of the company will be in control!! such as toyota holding subaru 15% of stock shares and they are actually the biggest share holder of subaru!!
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att- thy have been doing that shady business since they came out with the cable modem. They go bankrupt in one area and with a name change make a stand in another. ATT has their new DSL but my comcast use to be called att i believe.ATT is a horrible company!!! don't work there!
Last edited by slow04wrx; Jul 25, 2009 at 12:36 PM.
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