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View Full Version : Prosecutors raid Porsche offices



edesignuk
Aug 20, 2009, 11:40 AM
The offices of German luxury carmaker Porsche have been raided by federal prosecutors probing the alleged market manipulation of Volkswagen shares.

Porsche had built up a stake of 51% in VW in an attempt to launch a takeover of Europe's biggest carmaker.

The two have subsequently agreed to a merger, ending months of bitter feuding, which will take place in 2011.

The carmaker denied the accusations and said that it would co-operate fully with the prosecutors. BBC (http://news.bbc.co.uk/1/hi/business/8212624.stm).


leekohler
Aug 20, 2009, 01:30 PM
Interesting. Let's hope it doesn't drag on forever. That would be bad for both companies.
opinioncircle
Aug 22, 2009, 04:48 PM
Looks like Volkswagen will buy Porsche and not the other way around. Ferdinand Piech (former VW CEO) seems to have made some shady financial acts.
quagmire
Aug 22, 2009, 09:52 PM
Looks like Volkswagen will buy Porsche and not the other way around. Ferdinand Piech (former VW CEO) seems to have made some shady financial acts.

From what I have read, VW will buy Porsche AG( the automobile company), but Porsche SE will buy VW.
opinioncircle
Aug 23, 2009, 12:51 AM
From what I have read, VW will buy Porsche AG( the automobile company), but Porsche SE will buy VW.

oh yeah? woa boy does that sound crazy. i mean i understand the benefit from porsche's standpoint but not so much for volkswagen.