Wolfsburg Simulation Games

2023 Author: Eric Donovan | [email protected]. Last modified: 2023-08-25 09:36

The rumors of a replacement of Porsche boss Wendelin Wiedeking persist despite all denials. Latest speculation: Now VW wants to turn the tables and take over the sports car manufacturer.

According to a press report, Porsche boss Wendelin Wiedeking is increasingly losing support from the owner families. “Wiedeking wobbles”, writes the “Frankfurter Allgemeine Zeitung”, citing well-informed circles. Apparently, the owner families Piech and Porsche are now very worried about the future of their company, it said. They are afraid that Porsche could take over the fifteen times larger VW group. Spiegel and Wirtschaftswoche reported on this at the beginning of the week.

Wulff doesn't know anything

The Munich evening newspaper reported on Tuesday that Wiedeking was about to be replaced. Porsche rejected this representation at the time. Lower Saxony's Prime Minister Christian Wulff (CDU) also said on the sidelines of the Hanover Fair to the financial news agency dpa-AFX: “I don't know anything about that. The subject is completely new to me. Lower Saxony is the second largest VW owner after Porsche and is struggling with the sports car manufacturer for power in Wolfsburg.

According to the "Financial Times Deutschland", Volkswagen now wants to turn the tables and for its part is considering swallowing Porsche. For this, however, the Porsche and Piech families would have to go along, as they hold the common shares. According to a press report, Europe's largest car company Volkswagen could turn the tables in the power struggle with its major shareholder Porsche. VW is sounding out the purchase of the sports car manufacturer, writes the "Financial Times Deutschland". "CFO Pötsch is calculating," the newspaper quoted an insider. A VW spokesman declined to comment. A Porsche spokesman told the newspaper that he was not aware of any takeover plans.

Porsche holds 51 percent

Porsche currently holds almost 51 percent of Volkswagen and intends to increase it to 75 percent. According to a report by “manager magazin” from the previous day, Porsche has problems financially to manage the further share purchases. The “FTD” also reports financing problems.

The state of Lower Saxony, which is the second largest shareholder in VW with a good 20 percent, supports the simulation games of the Wolfsburg mass manufacturer, writes the "FTD". "Prime Minister Wulff is playing a constructive role," the newspaper quotes a participant. It is considered certain that the CDU politician will offset his support with concessions for the car factories to remain in Lower Saxony.

The takeover plan only has a chance if the Porsche owner families Porsche and Piech are behind it. According to two media reports, Porsche boss Wendelin Wiedeking has lost the families' trust and is about to be replaced. (dpa-AFX)