In a plot thicker than that of I Claudius, Porsche, with the help of a newly appointed Audi senate, continues to line up the ducks for a palace coup at Volkswagen. And Porsche now has an unexpected ally – the local council.
The state of Lower Saxony, which holds a 20 per cent stake in Volkswagen, has buried the hatchet that for years has been aimed at the head of Ferdinand Piech - who presides over the VW supervisory board, and who, by happy coincidence, is also a major shareholder in Porsche, his family company.
According to Reuters, Lower Saxony’s premier, Christian Wulff, stated recently that: “Porsche and Lower Saxony will from now on act in concert.” That must be music to Piech’s ears.
Given that Porsche already owns around 27 per cent of the VW stock (with more in the pipeline), the backing of Lower Saxony gives it all the clout is needs to effect a takeover at Wolfsburg. So those of you who have always dreamt of owning a Porsche may get your wish sooner than you think. Polo Carrera has a certain ring to it, don’t you think?
Golf GTi RS might also pull in a few punters.
AlfaMartini | 13 Mar 07 - 14:04