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VW axes talks with Porsche
GERMAN carmaker Volkswagen (VW) said yesterday it was abandoning talks with its major shareholder, Porsche, which were scheduled for today.
A spokesperson for the company said there was “currently no atmosphere for constructive talks.”
The meeting had been called to discuss the possibility of a planned integration by VW into Porsche.
But VW put a dampener on proceedings after saying that Porsche would have to slash its €9bn debt pile before the two carmakers could integrate.