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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