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Porsche rejects VW offer
Germany — Porsche has rejected an offer by Volkswagen AG to take a 49 percent stake in the sports car maker, a company spokesman said Monday. Porsche Automobil Holding SE spokesman Albrecht Bamler said the offer by VW "is not a viable option." Debt-laden Porsche, based in Stuttgart, has been holding...
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Tags: Porsche Automobil Holding SE, Wolfgang Porsche, Debt-laden Porsche, Volkswagen AG, sports cars, vw offer, percent stake, Albrecht Bamler, rejected vw, porsche rejected
News Stories
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- News Source: Canadian Broadcasting Corporation | 4 months agoET The Associated Press Porsche said Tuesday that a state-owned German development bank has rejected its application for 1.75 billion euros ($2.85 billion Cdn) in credit, but that a Qatar investment fund has offered to buy a stake in the sports...
- News Source: BBC | 4 months agoThe company has been struggling to finance the 9bn euros of debt it took on as part of its attempts to gain full control of Volkswagen. Porsche owns more than 50% of VW, but suspended attempts to buy a controlling stake of 75% when it ran out of...
- News Source: The Hindustan Times | 4 months agoWe have received an offer from Qatar for the acquisition of a participation and a purchase of options on Volkswagen shares," he said late on Monday. The offer would serve as a basis for further talks, but must be examined by the Porsche and Piech...
- News Source: United Press International | 4 months agoGerman automaker Porsche turned down an offer from Volkswagen Monday that would have transferred 49 percent of its sports car unit to its larger rival. Porsche said a financial penalty attached to the offer made the deal "unfeasible," The New York...
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