Prosecutors raid Porsche offices

[edesignuk]

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.

 

[leekohler]

Interesting. Let's hope it doesn't drag on forever. That would be bad for both companies.

 

[opinioncircle]

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]

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]

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.