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VW-Porsche merger on hold

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VW-Porsche merger on hold

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The tie-up talks between Volkswagen and Porsche have stalled.

A meeting on developing those plans was due to take place on Monday, but was cancelled after VW said Porsche is not ready for a merger. It is not clear when discussions might resume. The sports car maker owns 51 percent of VW’s shares but has run up nine billion euros of debt and the financial crisis means it cannot borrow more.