VW plans merger with Porsche

Volkswagen AG said today it will pursue an eventual merger with Porsche SE under VW’s leadership, promising the luxury sports car maker will retain its independence.

The Wolfsburg-based car maker, Europe’s biggest by sales, said that its supervisory board, the German equivalent to a UK board of directors, plans to hold talks with Porsche Automobile Holding SE “in order to reach a final concept fulfilling this goal”.