Reuters still reporting that India’s Eicher Motors are set for $2 billion takeover talks.
There have been rumours, upon rumours and even with the Volkswagen Audi Group board reported to have placed the entire sale on hold, stories of the proposed purchase of Ducati by Royal Enfield owners’ Eicher still won’t die.
If reports by Reuters are to be believed, Volkswagen have told the five (yes, five… Eicher aren’t the only people with an interest) potential purchasers to keep their bids to themselves whilst they deal with a few internal matters, but crucially the final bid deadline of September is still said to be in place and Eicher are working towards making a $2 billion offer for the Italian firm.
It’s not a simple process however, with German trade unions raising outspoken opposition towards the sale, and political uncertainty caused by upcoming elections both taking their toll on the process.
Will the Volkswagen Audi Group actually sell the Italian manufacturer? Only time will tell. But rumours like this tend to dissipate over time when the story isn’t quite all that it purports to be; and somehow this one just hasn’t faded away.
Reuters is as strong and solid a source as most financial rumours can have, so whilst we always take stories like this with large handfuls of salt, this one might just deserve a little more scrutiny.
It looks like we’ll know more by the end of September.