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Tuesday March 20, 8:19 PMMalaysia's Proton only in talks with Volkswagen-PMPUTRAJAYA March 20 (Reuters) - Malaysian state car maker Proton Holdings Bhd is talking only to German carmaker Volkswagen AG about a strategic alliance, Prime Minister Abdullah Ahmad Badawi told Reuters on Tuesday.But a decision on Proton was unlikely this week, Abdullah said in an interview, although Malaysia was still aiming for an end-March deadline. Asked if a deal with Volkswagen, the world's fourth-largest carmaker, could be announced this week, Abdullah said, "I don't think so." Asked if it was possible that a foreign partner could pump in equity into Proton rather than buy some of the government's stake, he said, "I would be happy certainly if they can bring in their own funds. "It depends on the outcome of the negotiations. We are approaching this with an open mind." Partnership talks between Volkswagen and Proton are at a "fairly advanced stage", local papers said last week, quoting Kevin Rose, VW's head of international sales, in neighbouring Singapore. Malaysian Second Finance Minister Nor Mohamed Yakcop said this month that Volkswagen and General Motors were among the local and foreign car manufacturers in talks for a stake in Proton, and the government aimed to make a decision by the end of March. |
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