Porsche nibbles away at Volkswagen

The daily Le Monde analyses the internal strife at carmaker Porsche over the takeover of Volkswagen: "Despite the internal war raging at the top levels of both German companies, Porsche continues to nibble away at Volkswagen. The sports car producer has bought five percent of its compatriot's stock. ... Europe's number one in the automobile industry is de facto being turned into a Porsche subsidiary. ... This is an insult for Ferdinand Piëch, who is both chairman of VW's supervisory board and a shareholder in Porsche. ... Yet 71-year-old Piëch is one of the most staunch advocates of a rapprochement with Porsche. ... Mr Piëch nonetheless has problems tolerating the methods employed by Mr Wiedeking [chairman of the board at Porsche], who in Piëch's opinion has gained too much influence. ... But the family dispute is ... just one facet of the battle for power into which the two groups have thrown themselves over the takeover."

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