[s-cars] VAG Buying Spree - Hot Wires

[CyberPoet]

So I'm sitting in my office, eating up data coming over the wires from
Reuters, Jane's Defense, various other news services, and the following
came over the business wire, followed shortly by the same story on
Deutsche Welle Industrie feed.

VAG Goes on Power Buying Spree
31 March, 2002
Augsburg, DE, EU
21:40:04 GMT

VAG-AG has preliminarily announced that it has completed negotiations
to purchases five additional brands markings: Oldsmobile, Volvo, Alpha
Romeo, Vauxhall and Opel. Industry analysts interviewed indicate that
the purchases are likely to provide VAG new access to certain global
markets that they are currently unrepresented or underrepresented in.
Reuters News Service(TM) financial analyst Debra Karr noted that each
of the brands has been in decline in past years and may have been
marketed for sale as a way of removing their losses from the corporate
bottom lines. Karr went on to note that past experience integrating
Skoda and Seat shows that VAG has the experience needed to
substancially revamp failing brands into viable new product lines.
Details are still forthcoming about the terms and conditions of sale of
the various brands from the respective owners. One insider source at
Audi flatly denied that the purchases were made, as some pundits
claimed, for purposes of obtaining new technologies for existing core
vehicle programs.

VAG To Buy 4 Brands, Perhaps a 5th?
1 April, 2002
Neckersulm, DE, EU
04:14:53 GMT

VAG-AG has confirmed that rumors about its intended take over of
Oldsmobile, Volvo, Alpha Romeo, and Vauxhall. Previous announcements
concerning the acquisition of Opel were not elaborated on, and a
spokesman for VAG declined to comment when asked about the previous
mention of Opel for takeover. Details to follow.

VAG Announces Intended Revised Marketing Plan
1 April, 2002
Augsburg, DE, EU
07:32:18 GMT

Following major rumblings in the automotive industry concerning what
may be the largest ever one-time buy-out of multiple brands, VAG has
confirmed that it has purchased the complete rights to Volvo,
Oldsmobile, Alpha Romeo and Vauxhall. VAG spokesman Peter Ott announced
that effective in the 2005 market year, VAG will no longer offer Audi
products in the North American market, and plans on filling the North
American channel with products from their newly acquired Oldsmobile and
Volvo products lines instead. Ott refused to comment on preliminary
announcements concerning the acquisition of Opel, stating that it was
corporate policy not to comment on pending transactions. Details to
follow.

VAG Announces Mass Acquisitions
1 April, 2002
Augsburg, DE, EU
08:10:29 GM

VAG confirms that it has arranged the largest one-time buy-out of
multiple brands in automotive history. VAG-AG revised their previous
announcements of acquisitions to include Opel. Additional Details to
follow.


=-= Marc Glasgow
www.cyberpoet.net
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