VW and Porsche have reached what this report describes as a 'basic agreement', that will see Porsche integrated into the VW Group during the course of 2011. The terms of the deal demand that VW pays EUR3.3 billion for a 42 per cent stake in the sportscar OEM
Is this it for MAN? Whilst the report suggests that VW will issue new preference shares in order to finance the deal, we are given to wonder if a shareholder or two might not be minded to urge some restraint on the part of Piech and his ambitions, and divest itself of the weakest link in the CV biz - namely MAN. The Sinotruk deal still smacks of a dowry payment, and CNHTC must be seen as front runner should such a deal materialise.