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Markets - Germany - The German Wildcards
USA - The Car Connection -4 Oct 2005: -- Porsche, of course, is buying up to 20 percent of Volkswagen to keep the company, with which its has joint manufacturing projects, from being taken over or raided by hedge fund managers, Arab oil sheiks with swelled wallets from rising oil prices or American-Armenian casino magnate Kirk Kerkorian... But now, we find that there is chatter in Germany about DaimlerChrysler and VW holding one another's shares to protect projects the two are developing... reported that VW and DCX have talked of taking less than 20 percent in the other's shares, although they would not appoint their own representatives to each other's supervisory boards to avoid a conflict of interest... VW would swap 10 percent of its shares for 6.9 percent of Daimler shares held by Deutsche Bank... What's next? The Ford family stepping forward to foil Kirk Kerkorian's play for General Motors?...
posted by Unknown @ 12:16 PM
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