Despite Rumors, Porsche Says It Plans No Restructure of VW

Washington DC October 29, 2007; The AIADA newsletter reported that luxury sports car maker Porsche AG says it isn't planning to restructure Volkswagen AG if it acquires a majority stake in VW.

According to a Dow Jones Newswires report, a Porsche spokesperson refuted an article in German magazine Wirtschaftswoche over the weekend, calling it "made up." The article said Volkswagen could be restructured so that all brands would become independent units under the umbrella of Porsche's Holding, citing people familiar with Volkswagen and Porsche.

Volkswagen expects more speculation in the coming weeks and will thus not start commenting on every rumor separately, a Volkswagen spokesman said Monday.