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Volkswagen Directors Schedule Meeting on Porsche, Spiegel Says

Jan. 29 (Bloomberg) -- Volkswagen AG’s supervisory board scheduled an extraordinary meeting over a draft plan to combine with Porsche SE’s automotive business, Der Spiegel said.

The directors will meet on Feb. 14, the magazine said in a preview of an article for its next edition. Germany’s Finance Ministry already has the draft plan, under which Volkswagen will pay 3.9 billion euros ($5.1 billion) plus tax, Der Spiegel said.

The plan would incur a “low three-digit million” amount in tax for Volkswagen, instead of the 1 billion euros previously envisaged, according to the magazine.

Volkswagen doesn’t comment on possible company meetings, spokeswoman Christine Ritz said.

To contact the reporter on this story: Karin Matussek in Berlin at kmatussek@bloomberg.net

To contact the editor responsible for this story: Anthony Aarons at aaarons@Bloomberg.net.

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