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Volkswagen hits back, weighs making a bid for Porsche
Thu, 23 Apr 2009Volkswagen 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.
Mercedes SLS AMG Roadster: Video of the new SLS soft-top
Tue, 31 May 2011Mercedes SLS AMG Roadster Video - better looking than the Gullwing? With all the stories and photos we’ve run on the Mercedes SLS AMG Roadster, it feels like it’s been here for ages. But it hasn’t.
Audi RS4 Avant Nogaro pays tribute to the original Audi RS – the RS2 Avant
Sat, 08 Feb 2014The Audi RS 4 Avant Nogaro )pictured) commemorates 20 years of Audi RS We’ve got used to estate cars with supercar prowess from Audi in recent years, but it wasn’t always so. Until 1994 there really wasn’t an Audi that was anything more than just a titivated family car. But then came the Audi RS 2 Avant.