Porsche to acquire a part of Volkswagen?

Porsche to acquire a part of Volkswagen? No Comments…

A report in the media which was released by German magazine Der Spiegel claimed that the luxury car maker Porsche was considering acquiring a 20 percent stake in the German auto giant Volkswagen. The deal could be worth a massive 3 Billion Euros and it can help the makers of famous cars like the 911 continue its business ties with Volkswagen.

The report also claimed that Porsche was consulting with Merrill Lynch for this deal. However, nothing has been confirmed until now and the company has also not released any comments on this rumor report. Same goes for the Volkswagen, which has officially said that they do not comment on speculations in the market and had no comments on this report.

A representative for Europe’s biggest carmaker said: “We do not comment on such speculation”. The company is facing a tough time in the USA market and had to shelve their plans to enter the Indian market after facing charges of possible bribery. The company owns well-known brands like Audi, Å koda, Bentley and Lamborghini.

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