After rumours suggesting Volkswagen may sell Ducati, the German car manufacturer's board has put the brakes on any kind of deal for the Italian motorcycle manufacturer.
It was speculated in June this year that Harley-Davidson were preparing a bid to takeover Ducati after hiring Goldman Sachs to work on the deal. But a report from Reuters now claims Volkswagen's supervisory board, which is made up of an equal split between corporate management and workforce representatives, sees no reason to sell.
"The employee representatives on Volkswagen’s supervisory board will neither approve a sale of Ducati, nor one of Renk or MAN Diesel & Turbo," a spokesman for VW group’s works council told Reuters. "Everyone who can read the VW half-year results should know: We don’t need money and our subsidiaries are not up for grabs by bargain hunters." The potential sale also did not receive support from the Porsche or Piech families, who own a controlling 52% voting share in Volkswagen. Harley-Davidson aren't the only brand believed to be interested in Ducati, with Bajaj, Eicher Motors and Hero Motorcorp also rumoured to be interested.
Article Source : MCN