U.S. antitrust authorities have given Porsche the approval to increase its stake in Volkswagen to 50 percent from 31 percent. The Federal Trade Commission put the deal on a list of approved mergers and other deals that it publishes several times a week.
You’re probably thinking VW’s CEO Winterkorn is throwing things around in his office right now but that’s because his recent comment to a German publication may have been taken out of context – well, a little bit. Shortly after Der Spiegel reported that Winterkorn threatened to resign if Porsche interferes with the Volkswagen”s operations, a spokesman from the company issued a statement to AutoCar.
“Dr Winterkorn doesn”t see the remotest chance that he will step down from his current position as chairman of the VW Group while the organisation is achieving such success,” said the statement.
“Dr Winterkorn is an engineer, not a politician,” the spokesman explained. “The statement was just a bit of exasperation, as if he were having a bad day at the office. Dr Winterkorn and Professor Wiedeking only see one another at motor shows, and once every two months at board meetings. But they”re both alpha males, so there might be something between them”¦”
Note: If you really want to know what it says in the bubbles above, head over to Google Translate.
Source: AutoCar and Automotive News