VW and Porsche Shuffle Board Ranks
According to the aforementioned source, Osterloh has a single major goal that would resolve the dispute while satisfying both parts: a two-class system through which Porsche's 12,000 employees would “outrank Volkswagen's 360,000 workforce”. Even though a decision is expected in the near future, a Porsche Automobil representative told Autonews that Volkswagen's votes will “carry greater weight reflecting the carmaker's larger workforce”. However, Porsche Automobili's works council will now include 20 employee representatives belonging to Volkswagen and Porsche.
Porsche is currently the owner of Volkswagen, often referred to as the largest car manufacturer in Europe, with 42.6 percent shares and 31.5 percent in options.
Rumors claiming that Porsche aims to take full control of Volkswagen circulated since summer, with German officials willing to block the deal in case negotiations could go through. For example, the German state of Lower Saxony claimed a potential agreement could simply eradicate Volkwagen's independence in the DAX index of the German stock market.
"Lower Saxony wants to keep the independence of VW in the DAX index on the bourse and in Wolfsburg ... as headquarters of the company. There will be no domination agreement with us. We will prevent it with our blocking minority,” Premier Christian Wulff was quoted as saying by wheels24 at the time of negotiations.