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Malaysia Automotive Industry

MALAYSIA
Automotive Industry
September 13, 2007
VW eyes 20% stake in Proton
German auto giant Volkswagen is keen to take a 20 percent stake in Malaysian carmaker Proton, an senior official said Thursday amid reports that talks will soon secure a partnership.

"Volkswagen is eyeing a 20 percent stake (in Proton). That is what they want," the official familiar with the negotiations told AFP on condition of anonymity.

The official said Proton and Volkswagen had their fourth round of talks in Bangkok two weeks ago and will be meeting again soon.

Malaysia last week expressed optimism about securing a partnership with Volkswagen.

"I can confirm that we have a good feeling about this," second finance minister Nor Mohamed Yakcop told reporters.

Volkswagen has said that it will intensify talks with Malaysian authorities, a major shareholder in Proton, with a view towards a possible cooperation or shareholding in the passenger car maker.

Prime Minister Abdullah Ahmad Badawi recently said Volkswagen was studying Proton for a possible strategic pact that would help save Malaysia's national carmaker. AFP/Channel News Asia reports

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