In order to save money on taxes, VW will establish a holding company that will temporarily take control of the remaining stake before the merger is approved by regulators. Knowing how hard a complete takeover can be and how some holders tend to disagree on the price, especially now when Porsche’s prospects are looking brightest, we wouldn’t be so sure.
“Of course, all the parties are interested in achieving the goal of an integrated automotive group as soon as it makes economic sense to do so,” Christine Ritz, a VW spokeswoman, said in a telephone interview with Bloomberg. “As soon as we have made a decision to achieve that goal, we will communicate that.”
VW, who owns 49.1 percent of Porsche, might forgo the merger and instead buy up Porsche’s carmaking business.
“As we said in September, we want to check alternatives and that process is ongoing,” Frank Gaube, a Porsche spokesman, said by telephone, declining to comment further.