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The Porsche/VAG history is much closer to the complicated FIAT/Ferrari history than it is compared to, say, the DaimlerChrysler era "merger of equals". VAG may "own" Porsche in a sense that they have 100% ownership of the Porsche automotive brand; but the actual Porsche family has complete control of the holding company that has a majority share in Volkswagen, as well as extreme influence over the Volkswagen board of directors even before the merger was a pipe dream (remember, Ferdinand Piëch has basically ran Volkwagen throughout the 90s and in much of the last decade as well; and still acts as company chairman) and the Porsche brand still acts pretty much autonomously. Suffice to say, anything that was signed off on when Porsche was its own thing is unlikely to be overturned unless the same people who originally signed off on it change their mind; and if anything this gives the Porsche family more control over the company with their name on it than they had before.
To try and break it down a bit simpler:
The Porsche holding company owns just over 50% of Volkswagen. The Porsche Family controls 100% of that company, meaning the Porsche family in essence has 50% control of Volkswagen (and therefore a lot of say in the goings on of any of the subsidiaries, of which the Porsche car company now is). On top of that, Piëch in particular also retains his executive position in Volkwagen itself; and he might still own 10% of Porsche (I can't remember if Volkswagen bought all of the Porsche family shares of that too, or just the publicly traded ones).
In essence, the only thing that the Porsche/Volkwagen merger did was prevent an outside company from being able to buy out Volkswagen when the company became vulnerable to it due to an EU ruling in 2007.
To try and break it down a bit simpler:
The Porsche holding company owns just over 50% of Volkswagen. The Porsche Family controls 100% of that company, meaning the Porsche family in essence has 50% control of Volkswagen (and therefore a lot of say in the goings on of any of the subsidiaries, of which the Porsche car company now is). On top of that, Piëch in particular also retains his executive position in Volkwagen itself; and he might still own 10% of Porsche (I can't remember if Volkswagen bought all of the Porsche family shares of that too, or just the publicly traded ones).
In essence, the only thing that the Porsche/Volkwagen merger did was prevent an outside company from being able to buy out Volkswagen when the company became vulnerable to it due to an EU ruling in 2007.
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