Tuesday, 18 October 2011

VW says still aims to keep Suzuki stake, refuses to comment on Suzuki's Ultimatum



German auto maker Volkswagen said it wanted to keep its stake in Suzuki Motor Corp after the Japanese car maker last week set an ultimatum that could mean the end of their troubled two-year-old alliance.

VW refuses to make any further comment on the Ultimatum that Suzuki had given to VW last week saying that the talks regarding the same are going on internally between Suzuki and VW's top management team.

VW bought a 19.9 percent stake in the Japanese car maker in 2009 for about 1.7 billion euros ($2.4 billion).

A spokesman for Suzuki said the Japanese car maker had not received any formal communication from Volkswagen on the matter.

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