Head of Volkswagen threatens to resign

When Porsche managed to obtain 50 % of VW’s shares, rumours of a possible hostile takeover of the European giant subsided due to the Volkswagen Law.

According to the famous Volkswagen Law, any strategic decision must be approved by more than 80% of the votes, leaving the galloping-horse brand with no possibility of making major changes.

However, recent reports indicate that Porsche could reach that percentage once the antitrust authorities approve the increase in shares.

For this reason, VW’s head, Martin Winterkorn, has firmly declared that he will resign if Porsche interferes in the decisions of the company’s board of directors.

It seems this saga has a long way to go, so we just have to wait for the next chapter.

Via | Autoblog en Español