Proton Holdings said a report that talks with Volkswagen over the latter’s interest in taking a stake in the company have stalled are incorrect and purely speculative, AFX News reported.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The company reportedly made the clarification in reply to a query from Bursa Malaysia.
Financial weekly the Edge earlier reported that talks between the two parties have stalled after VW’s plan to acquire a substantial stake was opposed by Proton’s senior management.
XFN-Asia reported yesterday that negotiations between Proton and Volkswagen are still ongoing.
Proton said last October it would assemble and sell VW cars as part of a ‘long-term strategic partnership’ that could lead to technology sharing and the joint development of cars, AFX noted.
