Volkswagen’s CEO, is interested in the Rate of interest: – Manager Magazin

FILE FOTO: Volkswagen AG’s CEO, Dr. Herbert Diess talks during a press conference in New York City, New York, New York, USA, July 12, 2019. REUTERS/Mike Segar

BERLIN (Reuters) – Volkswagen’s (VOWG_p.DE executive officer Herbert Diess who is interested in acquiring a stake in Tesla (TSLA.(O -), a German publication, Manager Magazin reported on Thursday, quoting sources in the company.

“Diess would have to go as soon as he could,” the magazine quoted one of Diess, ” top managers as it is to say.

Diess believes that Volkswagen are able to take advantage of its competences in the field of batteries, and a software, Manager Magazin said, adding the German company will have sufficient funds.

How to obtain an interest, will be sufficient to begin with, according to the report.

A greater obstacle, however, would have to obtain the consent of the Volkswagen, which dominates the owner-of the family, and the Piechs, and Porsche.

Volkswagen was not immediately available for comment.

A banker close to Volkswagen said that while it is true that, Diess’d like to its software developers, but he believed that it is almost impossible to justify paying for a $30-billion (27.09 billion) to buy the company as a whole.

Report by Thomas Seythal; Additional reporting by Jan Schwartz and Edward Taylor

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