The talks between Volkswagen AG and Porsche Automobil Holding SE has been indefinitely postponed but the sports car maker insisted that only the next round had been cancelled.
Peik von Bestenbostel, Volkswagen spokesman, told the associated press that the talks have been put on hold for now. He told,”Before we can take up talks again, it is necessary that Porsche adopts a clearly constructive attitude toward them.”
But Porsche insists that though the next round of talks and the working group meeting on the merger of the two car makers had been cancelled, “The negotiations that were begun last week will continue as planned.”
VW spokeswoman told yesterday, “There is currently no atmosphere for contructive talks.”
A major issue for VW is the huge debt of Porsche. Porsche has a $12 billion net debt after it increased its stake in VW to 51% last year.
