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VW to forge new car giant as it moves in on Porsche
Stuttgart Published in Saudi Press Agency on 23 - 07 - 2009

The board of giant German carmaker Volkswagen AG agreed Thursday to forge a new global powerhouse by mounting a takeover of the legendary sports vehicle group Porsche SE, according to dpa.
Announcing the agreement, Volkswagen chief Martin Winterkorn said
the way was now free for the creation of an integrated VW-Porsche
group with the sports carmaker to remain an independent brand.
The new combined VW-Porsche group would be "a major force" in the
world car business, said Winterkorn. The new group would "make two
strong companies even stronger," he said.

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