BritainhasEastEndersinAustralia, hasneighborsandhomeandawayGermany's favoritesoapopera, however, isthelongrunningbackandforthbetweenVolkswagenandPorsche.
Thelatestepisode, whichemergedthisweek, isthatVWwantstosell a bitofPorschebymeansofanIPO.
Toseewhythisisquitefunny.
Whytheclockback?
Wellover a decadebackthen, GermancorporatetitanandPorschefamilymemberFerdinandPiekwasbothchairmanofVW.
Onda, significantshareholderinPorsche, Porscheisholdingcompanystartedtobuild a stakeinVWwith a viewtotakingcontrol.
Butowingto a Sirisofunfortunateevents, itendedupoverleveragingitselftosuchanextentthatithadtosurrendercontrolofthePorschebrandtoVWorclearSofar.
Ifno, don't worry.
Themainthingtobearinmindisthere's a longandvexinghistoryoftensionsbetweenthevariousmembersofthePorschefamily, thePorschecorporateentityonVWoverwhatthevariousbitsoftheirempireworthonthisweek's newsmaymeanthatcomesbackintothespotlight.
ThechatteristhatVWmaytrytosell a 25% chunkofporttoraisemoneyforitspivottoelectricvehiclesat a mootedvaluationof €100 billion.
Giventhat's morethanVW's ownmarketvalue, thatseems a bittoppy, especiallyhisHSBC.