Just when you thought Porsche might eventually swallow Volkswagen, now comes a report from the Financial Times that it might actually be the other way around. VW might buy up Porsche's sports car business.
You'll recall that Porsche increased its stake in Volkswagen to over 50 percent in January and said it would keep buying up shares in VW until it had a 75-percent stake. Note that it's Porsche SE, a holding company jointly owned by the Porsche and Piech families, that owns the stake.
FT reports that Ferdinand Piech, chair of Volkswagen and co-owner of Porsche, is considering buying up Porsche's automotive division (Porsche AG) and integrating it into the VW family as a 10th brand. This sale would possibly pay down some of the debt Porsche SE is said to have amassed during its buying spree. The holding company would keep its stake in VW.
Created
