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.
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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.
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