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Old 02-24-2011, 12:56 PM   #1
Scooby Specialist
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Join Date: Dec 2009
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Default Investigation Puts Porsche-Volkswagen Merger at Risk

Porsche said late on Wednesday that its merger with Volkswagen would be delayed and might even be at risk, after German prosecutors told the company they were expanding their inquiry into the carmaker.
Prosecutors said on Thursday that they were investigating former Porsche executives for market manipulation, breach of trust and credit fraud. Those executives include Wendelin Wiedeking, the former chief executive of Porsche, and another top executive, Holger P. Härter, according to a person with direct knowledge of the matter.
“The further investigations will be extremely costly and time-intensive, and can in no case be completed before the end of the year,” the prosecutors said in a statement.
Shares of Porsche were down 5.44 euros, or 8.8 percent, to 56.16 euros in Thursday afternoon trading in Frankfurt.
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Old 02-24-2011, 01:15 PM   #2
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Join Date: Oct 2007
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Originally Posted by arghx7 View Post
haha... that's funny!
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