Malaysia’s state-owned Proton Holdings said that it could not confirm the report stating that Volkswagen will take a 51 percent stake in the automaker’s manufacturing division.

Proton’s spokesperson said: “This is a shareholders matter. Let’s wait for the announcement by the government which is expected before the end of the first quarter.”

Newsreports say that German carmaker has signed an agreement of intent to buy a substantial stake in Proton’s manufacturing arm, and an official announcement is expected on February 8.

## Source: bernama.com ##

Posted in: Volkswagen, Business, News, Industry, Proton
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