The long running Volkswagen (VLKAY.PK) saga appears to be entering its final phase. Porsche's (OTCPK:POAHF) debt position is likely to be relieved with the help of the Qatar Holding Investment Company, paving the way for a merger within two years. There are still a number of possible bumps in the road, and judging by the rising short base, investors are becoming increasingly nervous about the chances of success.
The short base in the Ordinary shares now stands at 2%, having doubled over the past month. Utilization in the Ordinary shares is close to 30%. The loan position in the preference shares is smaller, at around 0.4% and has been dropping sharply.
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