The supposedly happy merger talks between Porsche and Volkswagen have stalled before even making first gear.
An unnamed Volkswagen spokesperson has been quoted as saying, “we recognised at the end of the week that Porsche is lacking several fundamental conditions for the discussions.”
The saga is travelling on a seemingly neverending path of intrigue and the balance of power appears to see-saw by the day. About the only thing that does seem clear is that Volkswagen CEO Martin Winterkorn looks set to be the big winner in the executive stakes. Well, for now.
Stay tuned for more news as it comes to hand.
[Source: Reuters]
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