Monday, September 12, 2011

VW & Porsche Cancel Merger

VW & Porsche Cancel Merger
Monday, September 12, 2011, 04:39:00 AM

RMOL. Merger plan Porsche and German car manufacturers Volkswagen (VW) was forced to be delayed until later this year. However, both companies want to make a braid.

As quoted by French news agency AFP, the two companies have agreed to a merger because it still takes time. The reason is, there are legal proceedings against a Porsche in Germany and the United States (U.S.) for alleged market manipulation.

Even so, all parties remain committed to the goal of creating an integrated automotive group with Porsche and is confident that this will last.

Luxury sports car company Porsche automobile manufacturing shocked the world in October 2008 when it announced it has acquired 75 percent of Volkswagen.

Takeover measures it backfired because Porsche debt of 9 billion euros in the acquisition of shares of the largest automobile manufacturer in Europe. Volkswagenlah save the company's sports car.

Largest car manufacturer Volkswagen claimed had sold 665,600 vehicles during July, including trucks. This figure is an increase of 14.4 percent from the same period last year.

"The team increased sales in all brands of shipments worldwide," said Director of Marketing Volkswaden Christian Klingler. VW's ambitions to become the largest manufacturer in the world in 2018.

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