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Volkswagen eyes move on Porsche Volkswagen is considering an audacious bid for Porsche’s automotive business, in another extraordinary twist in the corporate saga surrounding Germany’s most famous car dynasty.
Several people close to the situation said VW’s management was weighing the option of buying Porsche AG, in a move that would bring relief to the highly indebted parent Porsche SE holding company.
This would turn upside down Porsche’s audacious takeover of VW, which started three and a half years ago. VW is Europe’s largest car company whose turnover is roughly 15 times as great as Porsche’s.
“The tail would finally stop wagging the dog,” said a person familiar with the thinking of VW’s management.
Wendelin Wiedeking, Porsche’s chief executive, has in the past repeatedly locked horns with VW’s management and works council.
The plan emerged as shareholders were set to convene at VW’s annual meeting on Thursday. More at FT.com
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