Europe’s biggest carmaker, Volkswagen (VW), plans to buy German sports car firm Porsche in stages while retaining the latter’s independence.
VW says its board will hold talks with Porsche “in order to reach a final concept fulfilling this goal”.
Both sides had earlier said they wanted to form an integrated automotive group.
The latest move comes after Porsche’s chief executive Wendelin Wiedeking and financial director Holger Haerter had resigned “with immediate effect”.
Mr Wiedeking had failed in his long-running attempt to take over VW, despite Porsche building a 51% holding in the company.
Porsche had hoped to build up a 75% stake, but the financial crisis and the slump in the global automotive sector put paid to its efforts, which in the end saddled the sports car maker with huge debts.
Source: BBC News
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