| Volkswagen Files Request to Increase MAN to Above 25% (Update2) | | Posted Friday, October 27, 2006 6:46:47 PM by Blog57 Team | | Oct. 27 (Bloomberg) -- Volkswagen AG, Europe's largest carmaker, has filed a request with German regulatory authorities to increase its stake in MAN AG to more than 25 percent, given the company a minority blocking stake in the truckmaker. ``We have asked the German Cartel Office for approval to increase our holding to a minority stake of more than 25 percent,'' Christine Ritz, a Volkswagen spokewoman, said in a telephone interview today from the company's headquarters in Wolfsburg, Germany. ``We will keep our stake below 30 percent.'' Volkswagen Chief Executive Bernd Pischetsrieder wants a three- way alliance of MAN, Swedish truckmaker Scania AB and his Brazilian heavy-truck unit. Volkswagen, the largest shareholder in MAN and Scania, on Oct. 15 gave the two companies four weeks to come up with an ``amicable solution'' to a merger.... | |
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| | | Volkswagen Buys 15.1% of MAN AG in `Strategic' Move (Update5) | | Posted Wednesday, October 04, 2006 6:45:54 PM by Blog57 Team | | Oct. 4 (Bloomberg) -- Volkswagen AG bought a 15.1 percent stake in MAN, turning the tables on Europe's third-largest truckmaker and blocking its attempted takeover of Swedish competitor Scania AB. The 1.47 billion-euro ($1.9 billion) stock purchase comes more than two weeks after Wolfsburg, Germany-based Volkswagen, Europe's biggest carmaker, refused to sell its 34 percent stake in Scania to MAN. Volkswagen Chief Executive Officer Bernd Pischetsrieder wants to combine MAN with Scania, Europe's sixth-largest truckmaker, to overtake DaimlerChrysler AG and Volvo AB, the region's biggest makers of vehicles heavier than 16 tons. Truck manufacturers earn more money per vehicle than automakers, which led Volvo to sell its car unit to Ford Motor Co. and MAN to dispose of businesses unrelated to its main truck operations.... | |
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| | | M'sia To Host Volkswagen 2006 China Vs World All Stars Team ... | | Posted Monday, September 04, 2006 12:46:06 AM by Blog57 Team | | KUALA LUMPUR, Sept 2 (Bernama) -- Malaysia has been selected by the International Table Tennis Federation (ITTF) to jointly host the inaugural Volkswagen 2006 China versus World All-Stars Team Challenge. The one-day tournament will be held at the Kuala Lumpur Badminton Stadium in Cheras from 8.30pm on Sept 12. "The ITTF have selected Malaysia to be the venue host because of our success in organising the World Team Table Tennis Championship in 2000. They knew our capabilities in organising an international event," Table Tennis Association of Malaysia (TTAM) secretary Chan Foong Keong told reporters here Saturday. Chan said six top ranked men's paddlers would be vying for the US$60,000 (about RM219,555) prize money for the winning team, while the losing team would receive US$30,000 (about RM109,777).... | |
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| | | Rheinland-Pfalz Lifts Volkswagen Estimates | | Posted Saturday, September 02, 2006 2:46:23 PM by Blog57 Team | | 0747 GMT [Dow Jones] Landesbank Rheinland-Pfalz raises Volkswagen's (VOW.XE) price target to EUR88 from EUR77 after extending the valuation horizon to the end of '07. Lifts '07 EPS estimate to EUR6.18 from EUR5.77, '08 EPS to EUR9.27 from EUR8.44 after the company said that so far 3,200 workers have accepted redundancy payments. Expects the company and workers to reach an agreement in restructuring talks by mid November. Sees years to come benefit from sustainable cost cuts and new models. Keeps at outperformer. Shares trade +0.1% at EUR62.40. (JUM) Copyright (c) 2006 Dow Jones & Company, Inc. .... | |
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| | | Volkswagen to expand car loans business | | Posted Saturday, August 12, 2006 4:45:55 AM by Blog57 Team | | Volkswagen Finance (China) Co Ltd, German carmaker Volkswagen AG's auto-financing arm in China, plans to aggressively expand its business coverage this year. Klaus-Uwe Schaffrath, general manager of the auto-financing firm based in Beijing, said it intends to provide loans to car buyers in 25 Chinese cities by the end of this year, up from 12 in July. Meanwhile, the company will double its partner dealers from Volkswagen and its two joint ventures in China to 200, Schaffrath told China Daily. Cars sales from its partner dealers, both financed and paid in cash, will account for 70 per cent of Volkswagen's total sales in China this year, he said. "Our (outstanding) loans will grow gradually with bigger business coverage," he said. He said Volkswagen Finance (China) now has more than 3,000 contracts since it began operation in September 2004 with an equity capital of 500 million yuan (US$62.5 million).... | |
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| | | More on the Rumored, $1 Million Bugatti Sedan | | Posted Thursday, August 10, 2006 6:46:13 PM by Blog57 Team | | There's not much more on what's secretly percolating in Volkswagen's Alsace bureau, but World Car Fans is throwing its tilted fedora into the ring anyhow. For a few months we've been hearing about Bugatti's upcoming Veyron-based sedan -- you know, the one with a detuned, front-mounted 8.0-liter W16, producing 950-hp -- which would capitalize on the company's success in the batshit-extreme coupe market. The spy syndicate of Hans Lehmann and associates offer a spec image of what such a coupe-like four-door would look like. We'll believe such a car when we see it, or, more likely, when we read a thousand column-inches of hyperbole about it from A-list British and American magazine editors. Lucky sods. Bugatti Veyron-based Sedan? [World Car Fans] Related: New Bugatti On the Way .... | |
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| | | Woman in crash with semi ‘very lucky’ | | Posted Thursday, July 20, 2006 4:45:59 AM by Blog57 Team | | But it happened again yesterday afternoon, when James, 56, was driving her Volkswagen Beetle on southbound Interstate 25 near 20th Street when a veering truck smashed her car against a concrete barrier. James had to be pushed and pulled from the sandwiched car, which was completely destroyed. She suffered bruises on her legs and a scratch on a knuckle on her right hand. "I?m just an ordinary person and something extraordinary happened," James said. In 1993, James was driving with her then-husband on a highway in North Carolina when a semi-truck drove into their lane and knocked off the side view window of their Corvette. "I do what I can," she said. "I was very lucky." James, who lives in Denver, said she is sore and needs rest. "She has guardian angels watching over her," said boyfriend Dennis Christensen.... | |
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| | | Deutsche Telekom, HVB, RWE, Volkswagen: German Equity Preview | | Posted Tuesday, July 18, 2006 6:45:50 PM by Blog57 Team | | July 17 (Bloomberg) -- The following stocks may rise or fall in German markets. Prices are from the last close and company symbols are in parentheses. DAX Index futures expiring in September advanced 24 to 5477.5 as of 8:18 a.m. in Frankfurt. On July 14, the DAX slid 1.9 percent to 5422.22 on the Xetra electronic-trading system. DaimlerChrysler AG (DCX GY): The carmaker's Mercedes Benz unit plans to sell its first hybrid car at the beginning of 2008, WirtschaftsWoche reported, citing an interview with Thomas Weber, the unit's development head Thomas Weber. The shares dropped 55 cents, or 1.4 percent, to 37.55 euros. Deutsche Post AG (DPW GY): The postal service's individual business units would be worth more than the group as whole should they be split off and sold individually, WirtschaftsWoche reported, citing an unidentified U.S.... | |
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