Italdesign Giugiaro is due to make an announcement “in the next few days” with widespread speculation it is to be the subject of a takeover by Volkswagen.

It is thought VW has had its eyes on the Turin-based company with a view to expanding its design expertise as it looks to drive sales of up to 10m vehicles per year.

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“We are going to say something in the next few days – we could say something tomorrow,” an Italdesign spokesman in Turin told just-auto.

“We have to do this thing together with Volkswagen.”

Volkswagen was not immediately available for comment – today (Monday 24 May, 2010) is a public holiday in Germany.

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