Volkswagen Denies Report It Will Buy Control of New Proton Unit

By From Bloomberg| Jun 08 2007
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Volkswagen AG, Europe's largest carmaker, denied a report it will probably buy a controlling stake in a unit holding the assets of Malaysian carmaker Proton Holdings Bhd.

``This report is definitely wrong and only rumor without substance,'' said Andreas Meurer, a Volkswagen spokesman, in a phone interview today. ``We will have a round of talks soon.''

The Edge Financial Daily in Malaysia said today Volkswagen may buy a 51 percent stake in a newly formed unit that will own Proton's manufacturing, research and development and engineering divisions.

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