Daimler May Be in Talks to Buy Porsche Stake, Magazine Says

Discussion in 'Stocks' started by ASusilovic, Jun 19, 2009.

  1. June 19 (Bloomberg) -- Daimler AG, the world’s second- largest maker of luxury cars, may be in discussions to buy a stake in Porsche SE, Manager Magazin said, citing unidentified people in the financial industry.

    Both companies, based in Stuttgart, Germany, had already been in talks at the end of last month to discuss possible options, the magazine reported in an article on its Web site.

    Daimler may buy shares in Porsche in a possible share sale or may receive Volkswagen options, the magazine said.

    Porsche, which is also in talks with Qatar about selling a stake to the Persian Gulf state, tripled its debt to 9 billion euros ($12.6 billion) after the company raised its stake in Volkswagen AG, Europe’s biggest carmaker, to 50.8 percent at the start of this year.

    “We absolutely don’t comment on speculation,” Hartmut Schick, a Daimler executive, told Bloomberg News. Schick would neither confirm nor deny the report. Albrecht Bamler and Tony Fouladpour, spokesmen for Porsche, didn’t immediately return phone messages seeking comment.


    Hum, makes sense. A lot of Porsche owners park their Daimler in the same garage...:p
  2. Is that what Germans call "automotive diversification"? :cool:
  3. No, they call it their "fleet"...:p