VW Will Probably Be Bought By Porsche By The End Of The Month

October 17, 2007 at 7:18 pm

VW has a problem, and everyone in Germany knows it.

It’s called extra baggage, and it comes from the increased salaries that its employees have (about 20% higher then the average in the German industry), they paid for the development of the magnificent, but expensive, Bugatti Veyron, and despite being the owners of Audi, they don’t really have that much cooperation going on.

VW Will Probably Be Bought By Porsche By The End Of The Month vw logo jpeg thumb

Right now, Porsche can’t buy the majority, because of an old law, that doesn’t allow any party to hold more then 20% of the votes in the company, no matter how much they had. Since the EU is expected to say that it’s in violation of its rules, Porsche will be able to take control of the company by increasing its stake to 51%.

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