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PHOTO FILE: Herbert Diess, CEO of Volkswagen AG, at a press conference in New York, New York, USA, July 12, 2019. REUTERS / Mike Segar
BERLIN (Reuters) – Volkswagen (VOWG_p.DE) Managing Director Herbert Diess is interested in a stake in Tesla (TSLA.O), Published Thursday an article published by the German magazine Magazin, citing sources from the company.
"Diess would come in immediately if he could," said one of Diess's executives, quoted by the magazine.
Diess believes that Volkswagen could take advantage of Tesla's expertise in the field of batteries and software, said the director of Magazin magazine, adding that the German company had enough money.
Acquiring a stake would be enough to start, says the report.
However, a bigger obstacle would be to obtain the consent of the dominant owner families of Volkswagen, the Piech and the Porsche.
Volkswagen was not immediately available for comment.
A banker close to Volkswagen said that while it was true that Diess would love to have Tesla's software developers, he nevertheless felt that it was almost impossible to justify paying $ 30 billion (27.09 billion euros) to buy the entire company.
Reportage of Thomas Seythal; Other reports by Jan Schwartz and Edward Taylor
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