Porsche Takes Charges From VW on Purchases, Handelsblatt Says
Stock Chart for Porsche Automobil Holding SE (PAH3)
Porsche AG is incurring “significant” charges over engine and parts purchases from Volkswagen AG (VOW) because of the stalled merger with the German carmaker, Handelsblatt reported, citing Chief Executive Officer Matthias Mueller.
VW and Porsche are forced to treat each other as competitors for as long as their planned merger isn’t completed, the newspaper said, citing Mueller. The CEO said both companies are charging each other a “profit premium” when buying components from one another.
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