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Monday, June 04, 2007

Porsche officially files for takeover bid of VW

Reuters is reporting that today, Porsche has politely asked the European Commission if it can take over Volkswagen. The short filing by Reuters goes on to state that the Commission has until July 2nd to either give the green light or look into the matter further. Naturally, we'd expect the E.C. to take its time on the matter. Porsche's ultimate plan appears to involve taking over Volkswagen without being forced to buy all of its shares. A 47-year-old German law currently prevents a Volkswagen takeover, but the European Union is reportedly considering a repeal that would open the door for Porsche to make its move.

[Source: Reuters]

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What is the main factor for you to buy a Proton Car?
Low price and no other choice due to budget
Good resale value
Low maintenance cost
Ride & Handling is good
Reliable parts, chasis and engine
Good Styling exterior & Interior
Patriotism (I support Made in Malaysia Products)
Follow others (Follow Majorities should be the best choice)