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Delay likely for Porsche VW merger

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Delay likely for Porsche VW merger

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The bosses of Porsche and Volkswagen have said various legal disputes and tax issues could delay their merger to beyond the end of next year but insisted it will go ahead.

Porsche’s failed attempt to take over VW in 2008 could trigger law suits from US Hedge Funds it is also awaiting a ruling on a potential multi-billion euro tax liability.

Porsche also said it plans to sell five billion euros worth of new shares to pay down its debt.

Shareholders will be asked to approve that at a meeting at the end of November.