People car swallow a luxury car

German sports car Portia acknowledged defeat in a few months continued wrestle with Volkswagen and ultimately they will merge.

Portia release its director Vendelin Viydeking thus opened the way for the merger of two companies over the next few years. Viydeking tried to absorb billions of VW by providing loans to buy shares, but he nadtseni its capabilities and is now outside the government, but plans were changed.
Portia for the purchase of VW would be unusual move. It is a small company with a turnover of seven billion euros last year to 114 billion euros of Volkswagen. Portia made 87,000 cars, while VW remove 6.3 million, Portia is estimated at about 3.6 billion euros, while VW 70 billion.
President of the Portia Portia Wolfgang wept when union members reported to the Works Council of the company for change. He said: „The merit of Dr. Viydeking were uncontested. He brought Portia from poverty to new heights that were unthinkable. “
Indeed, when Viydeking Portia work took almost 17 years, the company was on the edge of bankruptcy, but they rationalize production and now she has the highest profit in the automotive industry. The award, which he received was to be the best paid director in Germany last year as work is 77 million euros.
Prepare merge and reduce Portia debts amounting to 10 billion euros, Qatar, the Gulf state will make major investments in the company’s sports cars.

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Euronews
Finance