Porsche will take longer than expected to reach a merger agreement with German partner Volkswagen AG, a Porsche spokesman said on Friday.
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Porsche denied on Thursday that it had filed an application for aid that a government source had said had been rejected.
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Porsche has refuted press reports that it had asked for government financial aid. A newspaper story this week suggested the German carmaker had put in for aid but the government had rejected the application.
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Porsche denied on Thursday that it had filed an application for aid that a government source had said had been rejected.
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Porsche denied on Thursday that it had filed an application for aid that a government source had said had been rejected.
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The stand off between Volkswagen and Porsche seems to have ended with the chairmen of both carmakers saying their goal was to press ahead with the planned merger of the two, after all.
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The squabbling cousins who run Porsche and Volkswagen appeared to have made peace on Tuesday, agreeing to work together once more toward a combination of the two German carmakers.
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The squabbling cousins who run Porsche and Volkswagen appeared to have made peace on Tuesday, agreeing to work together once more toward a combination of the two German carmakers.
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The squabbling cousins who run Porsche and Volkswagen appeared to have made peace on Tuesday, agreeing to work together once more toward a combination of the two German carmakers.
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Porsche Automobil Holding SE is conducting "promising talks" with a potential investor, a company spokesman was quoted as saying on Tuesday.
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Porsche declined to comment on Tuesday on rumors that the carmaker could receive a 3-4 billion euro ($4.09-5.45 billion) investment from an unnamed Kuwaiti investor.
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Porsche declined to comment on Tuesday on rumors that the carmaker could receive a 3-4 billion euro ($4.09-5.45 billion) investment from an unnamed Kuwaiti investor.
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Any new company resulting from a merger of Volkswagen and Porsche should be open to outside investors, according to the German state of Lower Saxony, VW's second-biggest shareholder.
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Any new company resulting from a merger of Volkswagen and Porsche should be open to outside investors, according to the German state of Lower Saxony, VW's second-biggest shareholder.
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In today's News Brake: A classic Ferrari sets an auction record; VW slams the brakes on merger talks with Porsche; and the Lexus LF-A is spied on the track ... But Wait, There's More!
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The balance of power between Porsche and Volkswagen's management appears to be shifting inexorably towards those in charge of VW, Global Insight analyst Tim Urquhart said in a resarch note today.
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Volkswagen on Sunday slammed the brakes on merger talks with Porsche, just before the first meeting to discuss ways to bring all of the automakers' brands together under one entity.
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Preferred shares of Porsche SE fell early on Monday as news broke that Volkswagen had stopped merger talks.
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Porsche Automobil Holding SE's preferred shares fell on Monday amid fears the automotive holding group's finances may be worse than believed, poisoning its attempts to forge closer ties with Volkswagen AG.
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Volkswagen has stopped merger talks after deciding the smaller firm, its major shareholder, was not ready for such a move.
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