Volkswagen might get a chance to buy Proton
November 11th, 2006 Leave a comment Visited 27 times, 1 so far today
Volkswagen might get a chance to buy Proton
The Malaysian government has said that they are considering the possibility of selling the manufacturing arm of Proton Holdings Bhd.
Country’s Prime Minister Abdullah Ahmad said in a statement: ‘‘It is an option that we are considering at the moment. ‘It depends on the detailed discussion and an approval will have to be made after that.’’
A newspaper reported that Malaysia’s government may have agreed to allow foreigners to own 51% of Proton’s manufacturing operations with Volkswagen AG as a potential partner. However, no source of this information was revealed.
Proton is struggling to compete against international giants including Toyota which are increasingly becoming a dominating player in this market.
They were earlier collaborating with Mitsubishi but that deal ended in 2004.
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