Porsche CFO: Porsche has options to boost VW stake

Porsche currently holds 30.9 percent share in Volkswagen, Europe’s largest auto maker. Porsche has now acquired options that would allow it to increase its stake even more in Volkswagen, according to Porsche’s CFO Holger Haerter.

“We have secured a few options so that we can raise our stake in Volkswagen further if needed,” Haerter told Financial Times Deutschland. “We are thus prepared for anything.”

Haerter, who currently holds a seat on Volkswagen’s supervisory board, said Volkswagen has saved Porsche hundreds of millions of euros in development costs.

At the recent Porsche general staff meeting, Porsche CEO Wiedeking expressed his views on the latest media frenzy around the Porsche – Volkswagen relationship. Implying that Porsche will not be taking over Volkswagen, he said Porsche will operate independently of Volkswagen”s decisions.

Previously reported, Porsche had borrowed $13.7 billion from 37 lenders to finance the purchase of more Volkswagen shares.

Honestly by now, we don’t know what’s going to happen with these two.


Source: Automotive News (Suscription Required)

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