Volkswagen and Porsche have approved merge

On Thursday supervisory board Volkswagen had been approved merge with Porsche which should be carried out in some stages within 2010-2011.

On it informs Deutsche Welle referring to a source in supervisory board VW in Wolfsburg.

After merge with Porsche the motorcar giant will keep former name Volkswagen. Will head incorporated concern Martin Winterkorn. The head of board VW Martin Winterkorn will supervise over the new enterprise. Probably, Martin becomes also the new chairman of board Porsche Automobil Holding SE.

Porsche becomes the tenth mark of concern VW which becomes, thus, the largest motor-car manufacturer in Europe.

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