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    EU grants Porsche permission......

    EU grants Porsche permission to purchase VW.

    http://www.autoblog.com/2008/07/24/eu-grants-porsche-permission-to-purchase-vw/

    Re: EU grants Porsche permission......

    Hi Ron,

    That was out yesterday and there was very little doubt they would not get the clearance.

    By the way they already received the permission in the US.

    They believe they will have ALL permissions (17 countries) by end of August.

    Re: EU grants Porsche permission......

    Quote:
    EricAlain said:
    Hi Ron,

    That was out yesterday and there was very little doubt they would not get the clearance.

    By the way they already received the permission in the US.

    They believe they will have ALL permissions (17 countries) by end of August.



    Isn't it ridiculous that a German company needs to get merger permission outside Germany? The same happens with US companies' mergers being vetted in the EU. Strange controlling world we live in.

    And as far as US-EU relations... the US rarely opposes a European merger, whereas the EU mostly opposes US companies' mergers.

    Re: EU grants Porsche permission......


    The permission has to be granted NOT for Industrial businesses but for Financial Services, that are considered as banks.

    So in every single country in which Porsche and Volkswagen operate Financial Services (ie banks) they need to get the clearance.

    It is may be only a question of semantic but it's not a merger, it's a take-over (pure and simple).

    Porsche is buying Volkswagen and will not merge the 2 entities.

    Re: EU grants Porsche permission......

    Quote:
    EricAlain said:

    The permission has to be granted NOT for Industrial businesses but for Financial Services, that are considered as banks.

    So in every single country in which Porsche and Volkswagen operate Financial Services (ie banks) they need to get the clearance.

    It is may be only a question of semantic but it's not a merger, it's a take-over (pure and simple).

    Porsche is buying Volkswagen and will not merge the 2 entities.




    Yeah sure... in M&A lingo a takeover is a merger these days. Everyone knows that Porsche Automobil Holding will control VAG and PAG as separate entities, in a profitable incestuous relationship.

     
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