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.
