Report: Daimler in advanced talks to buy stake in Porsche

Porsche Daimler CEO

The Porsche/Volkswagen merger process hasn’t been an easy one. To make things a little more interesting, a German magazine is reporting that Daimler AG is in advanced talks to buy a stake in Porsche. Citing financial resources, reported that the Daimler CEO Dieter Zetsche and Porsche CEO Wendelin Weideking have already discussed the potential of such a move in May.

Reuters says that an industry sources says the report should be taken seriously. Another sources said that it was no surprise that different players in the industry were talking to each other.

A Daimler spokesman calls the report “pure speculation” and a Porsche spokesman said he had no knowledge of talks with Daimler. A Volkswagen spokesman chose to stay quiet on the report.

– By: Omar Rana

Source: Reuters