Proton, Volkswagen close to tie-up
Afp, Kuala Lumpur
Malaysia's ailing national carmaker Proton and Volkswagen AG are close to sealing a tie-up that will likely see the German firm take a 51 percent stake in its key assets, a report said Thursday. Citing unnamed sources, The Edge Financial Daily said a new company would be created which will see Volkswagen, Europe's biggest carmaker, controlling key operations with the 51 percent stake.
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