WE ARE SELLING OUR VW STAKE: SUZUKI

Osamu Suzuki is not mincing his words. The relationship between Suzuki, the company he runs, and its “associate” Volkswagen, is truly over. According to him. But VW says this is not so at all. The two auto giants began bickering a few weeks ago after accusing each other of violating their agreement.

Suzuki says it has terminated the agreement and VW counters by expressing its disappointment over Suzuki’s step. Furthermore, the Japanese firm is selling its stake in VW, at the same time encouraging its counterpart to sell its own 19.9% in Suzuki. VW is apparently not interested in such an arrangement, vowing instead to hold on to its stake.