Martin Winterkorn, the CEO of both Volkswagen AG and Porsche Automobil Holding SE, confidently stated that the $2 billion lawsuit initiated by several US hedge funds has not disrupted the integration of Porsche SE into VW.

He asserted that VW will “stick to the (2011) timetable for the integration of Porsche.” After Porsche SE botched a planned takeover of the VW Group, it was compelled to go to VW for a bailout after incurring over 10 billion euros in debt. Winterkorn also took the opportunity to announce that the timetable for a truck alliance of Scania and MAN, which both have VW as their biggest shareholder, involved “very concrete steps.” In the past few weeks, the talks centered on closer links between the three vehicle makers have intensified. Ferdinand Piech, the chairman of both VW and MAN who has been encouraging these talks to advance, is bent on building the world’s biggest automotive empire.

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