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Volkswagen hits back, weighs making a bid for Porsche

Volkswagen is considering an audacious reverse-takeover bid for its majority shareholder, Porsche, in a twist in the drawn-out struggle for control between the two German carmakers. The Volkswagen Group's supervisory board is said to be weighing the possibility of purchasing Porsche AG, in a move that would relieve its holding company, Porsche SE, of massive debt that industry analysts suggest the company may not be able to fund should the world's financial crisis drag on well into 2010--a scenario put forward this week by the International Monetary Fund. The secret plan emerged as shareholders were set to convene at Volkswagen's annual meeting on Thursday, and it comes after Porsche revealed that it is carrying some 9 billion euros ($11.73 billion) in debt, most of it owing to interest on loans taken out to purchase its 50.8 percent stake in VW.

Record Breaker Roars Again

WEDNESDAY 29th January will go down in history as the day Sir Malcolm Campbell’s record breaking 350hp Sunbeam was fired up and heard in public for the first time in over 50 years. The historic event followed a complete rebuild by the National Motor Museum’s workshop team. As the brainchild of Sunbeam’s chief engineer and racing team manager, Louis Coatalen, the car was constructed during 1919 and early 1920 and power came from an aero engine, a type used on naval seaplanes.

Geneva Motor Show 2007

Highlights from the 2007 Geneva Motor Show include the Giugiaro Vadho concept, Renault Clio Grand Tour concept, Toyota Hybrid X, Ford Mondeo, Mazda 2, Rinspeed eXasis, Opel GTC concept, Dodge Demon concept, Hyundai HED-4 Qarmaq concept, Bertone Fiat Barchetta concept, Mazda Hakaze concept, Maserati GranTurismo, Audi A5, Mercedes C-Class. Go to the Geneva Motor Show 2007 index