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VW merger talks with Porsche cancelled, says VW

Volkwagen has cancelled talks with Porsche about a potential merger of the two carmakers as opposition to the deal grows, reported Daily Telegraph.

A spokesman for Volkswagen said there is “currently no atmosphere for constructive talks” ahead of meetings initially scheduled for today.

The company is believed to be concerned at Porsche’s lack of strategy for integrating the businesses and last week warned that its suitor must cut its debts of £8bn before any deal.

But Porsche insists a deal can still be struck and that future meetings will be held.
 

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