Volkswagen AG (VLKAY) at a Monday supervisory board meeting made
no decision on potentially acquiring the 50.1% of Porsche AG it
doesn't own, Reuters reported. citing a high-ranking official.
"There is a firm commitment on the part of VW to reap synergies
as quickly as possible but not at all costs," the official told
Reuters.
Should Volkswagen buy the rest of the Porsche stake before 2014,
it would be subject to a roughly EUR1 billion tax, and thus might
wait till after that year, the official said after the board met at
VW's headquarters in Wolfsburg.
Volkswagen spokesman Marco Dalan declined to comment while
spokesmen at Porsche didn't return calls seeking comment, Reuters
reported.
Bloomberg News earlier today reported Volkswagen as being close
to a deal on the acquisition.
Full story at
http://www.reuters.com/article/2012/02/27/us-volkswagen-porsche-idUSTRE81Q1OU20120227
-Dow Jones Newswires; 212-416-2900