VW’s takeover of Porsche in danger due to tax liabilities

The planned takeover of Porsche would be burdened by tax liabilities amounting to 3 billion Euros , according to German newspaper, the Sueddeutsche Zeitung. Porsche sources have been quoted as saying that the taxes could be a dealbreaker. There are also reports that Ferdinand Piech is pressuring the Porsche family to sell a majority of its shares to VW and to terminate Wendelin Wiedeking.

The move is expected to cost around €92 million in severance pay. Porsche and Volkswagen, whose shares dropped 8% and 9% respectively, have declined to comment on the report.
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Joe_Limon - 7/21/2009 4:37:34 PM

+4 Boost

:) today is a good news day!

aarononymous - 7/21/2009 5:29:15 PM

0 Boost

This is getting old...

009load - 7/21/2009 6:37:36 PM

+2 Boost

Typical...over-engineering the deal. Which leads to an excess amount of parts being used, and higher rate of part failure. JUST LIKE THEIR CARS.

dhkss2002 - 7/22/2009 3:28:17 AM

+1 Boost

Lol, the good news keeps coming. I'll give you that tryme, but they sure as hell can't produce any mobile phones, computers...etc,etc. Just to rub it in, the MY 2030 m3 will probably be able to tie the 2009 GT-R at the Nurburgring (considering the m3 does a paltry 8:05 with cup tires and sport brakes, in reality probably 8:15). Take my comments with a pinch of salt, they aren't laced with any malice, rather just a response to the continual Japanese car bashing on this site:-) The comment on the m3 still stands though lol.

dhkss2002 - 7/22/2009 3:52:56 AM

+2 Boost

I almost forgot, while the krauts at Telefunken (lol) are still producing LCD/Plasma screen television, the Japanese and South Koreans are already selling Light Emitting Diode (LED) televisions. Oh yeah, those Germans, they are so advanced-NOT. Blaupunkt stereos are rubbish as well. Hmmm, Nakamichi or Blaupunkt, touch choice lol. Where can I get a German cellphone? I'm also in the market for a good German Desktop or Laptop since those Asians are incapable originality and are so primitive in their technological approach. Pity they can't be Germans.....blah, blah, blah , blah, sound familiar?