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    Re: Porsche buys 20% of Volkswagen!

    This sounds to me like a very bad idea, given the problems one has been hearing about VW over the last several years.

    I foresee headaches and indigestion...

    KMM

    Re: Porsche buys 20% of Volkswagen!

    They want cheap parts to keep profits high so they can keep the "The world's most profitable carmaker " spot .

    Re: Porsche buys 20% of Volkswagen!

    Quote:
    sdy284 said:
    and on that note...that title is kinda confusing



    Agreed.

    But, in other news this morning, Porsche had a meeting with investors late Monday evening and was able to impress some with their upbeat presentation. They expect "Double Digit Returns" on their VW investment!

    See this ABC News article:

    Porsche seeks double-digit return on VW

    Re: Porsche buys 20% of Volkswagen!

    Quote:
    KMM said:
    given the problems one has been hearing about VW over the last several years.
    KMM



    Could someone enlighten me as to the problems VW is having. I know many people who have VWs and are thoroughly impressed with their reliability.

    Re: Porsche buys 20% of Volkswagen!

    Quote:
    schmuy said:
    Quote:
    KMM said:
    given the problems one has been hearing about VW over the last several years.
    KMM



    Could someone enlighten me as to the problems VW is having. I know many people who have VWs and are thoroughly impressed with their reliability.



    Indeed, I don't know what KMM is talkig about but the cars are excellent and reliable.
    There has been some scandals lately but more political within VW involving scams and the other mistakes VW have made in the past are strategic, for example, going into the luxury market with the Phaeton. But again, the cars themselves, are faultless.

    Re: Porsche trying to buy 20% of Volkswagen!

    Two news stories in Forbes today that are of interest. The first:

    Porsche wants two mandates on VW supervisory board

    and the next:

    VW could issue new shares exclusively to Porsche - report

    Re: Porsche trying to buy 20% of Volkswagen!

    Strange
    I could swear I posted something on this topic two days ago.... but it has disappeared

    Re: Porsche trying to buy 20% of Volkswagen!

    There are three or more threads going on this topic for some reason. People not looking before they post I guess. This thread was the first, I think, and the most frequently read so I post my observations here.

    Re: Porsche trying to buy 20% of Volkswagen!

    Thanks GM... Got lost in all the different threads on this topic. I found my post ...

    The Deal Is Done!

    Porsche Press Release:

    Quote:
    Porsche holds almost 19 per cent of VW Common Stock

    German Anti-Trust Authority Approves Porsche's Participation in Volkswagen AGStuttgart.

    After already purchasing 10.26 per cent of VW's common stock, Dr. Ing. h.c. F. Porsche AG, Stuttgart, has now secured another 8.27 per cent of the common stock of Volkswagen AG. Once this transaction has been completed, Porsche will hold 18.53 per cent of VW common stock before the end of October. This will make Porsche the largest single shareholder in Volkswagen AG, with the intention to establish appropriate representation of the Company on the Supervisory Board of the Wolfsburg-based car maker.

    Porsche has furthermore established an appropriate hedge against an ongoing increase in the price of VW common stock and is in a position to acquire another 3.40 per cent through the market. This participation will not, however, as already stated by Porsche on 25 September, reach the threshold requiring the Company to submit a public bid for the takeover of Volkswagen.

    In the meantime the German Anti-Thrust Authority has informed Porsche AG that the "plan for merger duly submitted and registered does not infringe upon the provisions of Section 36, Para 1 of the German Act on Restraint of Trade", ruling that the planned takeover of common stock complies in full with legal requirements. So in the words of the Anti-Trust Authority: "The deal may be finalised and completed."

    GO

    10/7/2005




    See the press release HERE

    Re: The Deal Is Done!

    I had an interesting observation while looking at the various entities that now have ownership of VW stock. Porsche has now acquired 18.53 percent of the stock. The German state of Lower Saxony has an 18.2 percent stake and Volkswagen itself owns 13 percent. Those three together now own 49.73 percent of Volkswagen! AND ... Porsche has "options" to purchase an additional 3.4 percent!

    Bloomberg (LINK) has an interesting article on the latest developments. They think Monday's meeting of the VW supervisory board will be VERY interesting. Here's a quote from Bloomberg:
    Quote:
    ``It is clear that Porsche set about on the acquisition with an acceleration usually associated with their road-going products,'' said Stephen Pope, head of equity research at Cantor Fitzgerald in London with a ``buy'' rating on Volkswagen. ``The meeting of the supervisory board on Monday will be very interesting.''

    Volkswagen Supervisory Board Chairman Ferdinand Piech faces a revolt at a meeting on Oct. 10 by several board members, who plan to remove him from his post, Financial Times Deutschland reported today, citing an unidentified member of the board.




    Re: The Deal Is Done!

    Quote:
    GM Austin said:
    I had an interesting observation while looking at the various entities that now have ownership of VW stock. Porsche has now acquired 18.53 percent of the stock. The German state of Lower Saxony has an 18.2 percent stake and Volkswagen itself owns 13 percent. Those three together now own 49.73 percent of Volkswagen! AND ... Porsche has "options" to purchase an additional 3.4 percent!

    Bloomberg (LINK) has an interesting article on the latest developments. They think Monday's meeting of the VW supervisory board will be VERY interesting. Here's a quote from Bloomberg:
    Quote:
    ``It is clear that Porsche set about on the acquisition with an acceleration usually associated with their road-going products,'' said Stephen Pope, head of equity research at Cantor Fitzgerald in London with a ``buy'' rating on Volkswagen. ``The meeting of the supervisory board on Monday will be very interesting.''

    Volkswagen Supervisory Board Chairman Ferdinand Piech faces a revolt at a meeting on Oct. 10 by several board members, who plan to remove him from his post, Financial Times Deutschland reported today, citing an unidentified member of the board.






    I can't wait to see the new product collaboration....the Golfster, the Poloman S

    Re: The Deal Is Done!

    Oct 29, 2005
    Geared for a solo drive

    Volkswagen boss Bernd Pischetsrieder says the carmaker will not be affected by its biggest shareholder, Porsche
    By David Khoo

    TOKYO - NOTHING gives a better glimpse into how Porsche's recent 3.3 billion euro (S$6.75 billion) foray to become Volkswagen's biggest shareholder is affecting the ranks within VW than a chat with Bernd Pischetsrieder.

    Although composed and guarded, the suave VW chairman has a message.

    'Corporate governance takes precedence,' he says. 'The influence of any single board member loses significance when taken in the context of the majority.'

    In other words, former VW chief Ferdinand Piech, who is on the VW supervisory board and whose family controls Porsche, won't be able to lord over Europe's largest vehicle maker. Or anybody else from Porsche for that matter.

    Or so Dr Pischetsrieder claims.

    Previously head of BMW, he was hired by Dr Piech.

    Porsche's investment in VW is controversial, despite the former's assurance that it is merely protecting a supplier that was in danger of a hostile takeover.

    'Any future collaboration between Porsche and VW will be decided by the board on a project-by-project basis, and will be determined by how financially advantageous the undertaking will be,' Dr Pischetsrieder says.

    He indicates future joint ventures are on the cards, but doesn't say more.

    Porsche's most recent joint venture with Volkswagen was the Cayenne sports-utility vehicle. VW's version is called the Touareg. There were other collaborations in the 1980s and 1990s, including a Porsche made by VW-owned Audi.

    But Porsche decided to do its next immediate project alone. The Panamera was initially supposed to share a platform with the future Bentley Arnage (Bentley is also owned by VW). At the eleventh hour, the Stuttgart company decided to go it alone with the 1 billion euro project to build the four-door four-seater GT, which will be launched in 2009.

    As far as Dr Pischetsrieder is concerned, 'it wouldn't be such a bad thing for Lamborghini to steal some sales from Porsche'. Lamborghini is another VW Group brand.

    Re: The Deal Is Done!

    Oct 29, 2005
    I won't eat my own fingers

    IN 1999, at the Tokyo Motor Show, Christopher Tan conducted an impromtu interview with then VW chief Ferdinand Piech. What the grandson of Volkswagen creater Ferdinand Porsche said then has an uncanny bearing on current events.

    Here is an excerpt from that interview:

    Chris Tan: Why haven't you considered putting Porsche in the VW Group?

    Dr Piech: Why should I?


    Why shouldn't you? You've put almost every other brand under it.

    Porsche is the best-performing, most profitable company in the world. Why should I sell it? I won't eat my own fingers. (Putting his index finger in his mouth).

    It wasn't too long ago that Porsche wasn't doing too well - it was making huge losses. Why didn't you take it under VW then?

    I will not sell my family silver. I was confident if we put the right man there, we could turn it around. And we did.

    Will you be acquiring more companies?

    Perhaps in the future. But it won't be a weak company. The investment and effort needed to revive a weak company are just not worth it.

    In your opinion, which are the weak companies?

    I'll tell you who are the strong companies - Ford, GM, DaimlerChrysler, Volkswagen, Toyota and Honda.

     
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