US lawsuit could delay VW takeover of Porsche: Winterkorn

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US lawsuits brought by pension funds could delay but not prevent Volkswagen's takeover of the luxury German sportscar maker Porsche, the head of both groups, Martin Winterkorn, said here Tuesday.

"We cannot rule out that the proceedings may take a while yet until a final ruling is handed down," Winterkorn told a general assembly of Porsche shareholders.

"For this reason, there could be a delay with the planned merger. Let me be quite clear about this: the integrated automotive group will happen."

© 2010 AFP

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