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Porsche to Decide Sale Within 24 Hours

May 6th, 2009
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The Porsche family will decide tomorrow (Wednesday, May 6) whether to sell the sports car manufacturer to Volkswagen for €11 billion.

Wolfgang Porsche, Ferdinand Piech and the other three most important owner representatives will meet then to discuss how to solve the financial problems of the firm after failing to reach an agreement last week.

Mr Piech, who sits on the Volkswagen board as well as being co-owner of Porsche, argued for Porsche to be sold to Volkswagen, and presented a detailed plan to the others last week. This set the price at €11bn.

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