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Porsche dismisses VW demand

News reports have it that Porsche Automobil Holding SE has rejected the ultimatum that was made by Volkswagen AG and the German state of Lower Saxony to finally made a decision and merge with VW. In a statement that was made by the Porsche Supervisory Board Chair Wolfgang Porsche and Deputy Chair Uwe Hueck, they said that they don’t want to get blackmailed and said that the pressure on them will not help in the discussions. It seems that the company wanted to proceed with the talks on its own terms without pressure coming from the outside. And the demand comes as intrusive and highly irritating for them, and the two added in the statement that the ‘ultimatum don’t belong in the 21st century’. In their statement, they said that the issuers of the ultimatum should calm down and pursue once again proposal in private and not pressured by deadlines.



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