German automaker giant Volkswagen is open to a takeover of Suzuki Motor Corporation if the Japanese automaker persists in dissolving the alliance between the two companies, Spiegel magazine reported Sunday, citing a Volkswagen manager it didn't identify.
If Suzuki cancels its Volkswagen tie-up, the German company is free under the terms of the deal to add to its 19.9 percent holding in Suzuki without the Japanese company's approval, Spiegel said today.
Last Monday, Suzuki said it wanted to end its ill-fated two-year alliance with Volkswagen following disagreements between the two on how to operate together. But Volkswagen maintains that it has no plans to end its cooperation with Suzuki, even though the latter has decided to pull out of the two-year-old alliance.
In a statement through the Tokyo Stock Exchange, Suzuki said it had asked Volkswagen to end the capital and business alliance between the firms and unload its stake in the carmaker.