Volkswagen and Porsche finalize merger 2 years earlier than expected

Agence France-Presse (AFP), via InterAksyon.com, reports that on Wednesday, August 1, Volkswagen "wrapped up its takeover of German luxury sports car group Porsche two years earlier than planned." The report described Volkswagen as "Europe's biggest automaker."

AFP futher revealed that "the two companies, which had been seeking to merge since 2009, agreed to move up the integration of their businesses to create economies of scale in an increasingly tough global market."

For more on this story, read the AFP article posted on InterAksyon.com.