We have to admit that we have found the voices insisting that Porsche, the large hedge fund with an interest in cars, was engaging in market manipulation rather squeaky and shrill sounding. True, the news that one hedge fund manager was said to be "in tears" (we are told that the rumor it was Larry Robbins is a "vicious lie") when the squeeze hit caused much snickering around the Dealbreaker offices. Be this as it may, such calls are beginning to sound sympathetic as the process grinds ever on.
Volkswagen AG said Sunday it was indefinitely postponing talks over a planned integration with Porsche Automobil Holding SE, but the sports-car maker insisted that only the next round had been canceled.
As the power struggle between two of Germany's leading auto companies appeared to increase, Volkswagen spokesman Peik von Bestenbostel told the Associated Press that the talks had been put on hold for an undetermined period of time, and urged a more direct engagement from Porsche.
"Before we can take up talks again, it is necessary that Porsche adopts a clearly constructive attitude toward them," Mr. von Bestenbostel said.
But Porsche insisted in a statement Sunday that while a working-group meeting Monday on the fusion of the two car makers had been canceled, "The negotiations that were begun last week will continue as planned."
"German Auto Firms Dispute How Long Integration Effort Will Be on Hold"?
Please, mommy, please, make it stop.
VW, Porsche Take Break in Talks [The Wall Street Journal]