After months of on-again, off-again rumors, Porsche is finally preparing to announce a 51 percent takeover bid for Volkswagen, two leading German financial publications have reported.
According to Germany’s Der Spiegel magazine, Volkswagen is already buy options that will enable it to acquire additional shares at a predetermined price.
It’s not known exactly how high Porsche’s stake in VW will go, but both reports indicate it will cross the 50 percent threshold. Frankfurter Allgemeine Sonntagszeitung has estimate early 2008 as a timeframe for the move.
The implications of a takeover are not fully known. Previous reports have indicated Porsche has its own agenda for Bugatti, Lamborghini, and Bentley — all of which compete with in one way or another with its own offerings.
09/03, 3:48 PM
posted by:
Aston Martin
WE REALLY CARE!!!!
09/03, 5:13 PM
posted by:
Commodore
It does matter because as the last line says, Porshe could ruin the ultra-expensive VW group brands because they compete with it.
I just hope that Porshe straightens out that piece of **** Panamera to compete with the Rapide.
09/03, 5:43 PM
posted by:
buytheredcar
Thank God for the Cayennes
09/03, 5:56 PM
posted by:
autonutt
New Beetle Boxster.. coming soon!
09/03, 5:59 PM
posted by:
Commodore
That’s exactly what I;m afraid of autonutt
09/03, 10:37 PM
posted by:
A4
kiss porsche competitors goodbye
09/03, 11:40 PM
posted by:
josh
Nearly 70 years on and Germany is still trying for world domination… problem is it seems on getting it!!!
09/04, 8:31 AM
posted by:
Deanster
Good, maybe they’ll put the ****ing base Jetta and Beetle out of their misery.
09/04, 9:22 AM
posted by:
Andre Neves
Commodore, your an idiot.
The car hasn’t even been released for you to be calling it a POS. What do you drive if I might ask? A Toyota Carolla? Aztek?
Porsche for a while have beem the most profitable manufacture in the world. That’s a great milestone for them, considering back in the mid to late 80’s they were in a deep financial crisis.
In other words, they know what they are doing.
09/04, 9:37 AM
posted by:
Italiafan
Wrong. (BTW: it’s “you’re” an idiot, not “your,” you idiot)
To borrow from Nietzche, “Porsche is dead.”
They used to make awesome sportscars for enthusiasts, that is what Dr. F. Porsche and family always strove to achieve…and they did it as well as anyone, including Ferrari.
Now the Porsche family is not a player in operations, and it is run like any major corporation…that is…they chase profit margins to make money.
911s are not dreamed about by enthusiasts as much as posers looking to show off wealth, suburbanites that order automatic transmissions and drive to the mall while talking on the phone…though they have the ability to check and see if you are looking at them…
My wife has a Cayenne S, and it is a POS…though it does handle nicely. The Panamera is very how-hum looking, and if the interior is like the Cayenne it also will be filled with POS plastic pieces that wear off in months and break if you so much as look at them wrong.
I know, because I have owned true 911s (993s), then the more current “fake” 911s, and the POS Cayenne S. My Maserati is an enthusiast’s car…
I repeat, “Porsche is dead.”
09/04, 11:04 AM
posted by:
autonut
Ancshlus anyone? Krauts went berserk. They repeating the formula that ended (or near ended) Chrysler, Ford and about to kill GM. Not a bad thing as for krauts. All those M&A do not substitute product line demonstrated by Japs and carried forth by koreans. Let’s face it Hyundai has much higher quality rating then VW and Kia is manufacturing in Europe cars for Europe I would love to drive statewide. Pure signs of corporate dementia and cretinism.
09/04, 3:02 PM
posted by:
Jazz
Italiafan what is wrong with the Cayenne S?
Please cite some examples since you are the first person I have heard say that.
I think that this move has more to do with Porsche ensuring that that body parts from the A6 are readily available to the Panamera and hugely speculated Roxster
and next gen 928. People should really look at the history of Porsche if they want to speculate on this move.
Porsche has almost been bankrupted at least twice by 1) its dependence on outside parts and materials and 2) the fickle nature of sports car buyers.
The Cayenne and Panamera are steps to shore up Porsche’s position againt issue number 2. Issue number 1 is acheived by holding a major stake in the parts supplier. GM did it for years with Delphi. At least VW could be its own profictable company without Porsche.
When was the last time you heard of someone wanting to buy something from Delphi?
09/04, 6:55 PM
posted by:
Italiafan
Cayenne S, and the >$100K Cayenne Turbo S for that matter….have an interior made of ultra cheap materials. The vent controls for instance are made of silver-painted plastic, which has worn off with normal use in less than 30K miles. The panels on the back of the seats are coming off. The carpet on the driver’s floor is pealing up. The tranny has to be “reprogrammed” again since it goes carzy after awhile trying to “interpret” the different driving styles/conditions. The interior looks much older than it should…this is in a high-end vehicle mind you. I would be upset if my Kia (if I had one) was this ratty after 2 years of normal use.
If they make the Panamera with the same cheap workmanship they will be very sorry. In the high end luxury sports sedan niche the customers will demand quality craftmanship, not just the crest on the hood.
09/05, 3:57 AM
posted by:
Got Handling?
This represents a major change in activities for the people running the Porsche empire. They will quickly go from controlling a focused and slowly expanding company to controlling a conglomerate with products in just about every sector of the market.
.
Should be good news for the new acquisitions if Porsche can succeed in introducing their exemplary management, but what will it mean for Porsche itself if the board loses the focus that has made them so succesful?