German carmakers Porsche (PSHG_p.DE) and Volkswagen (VOWG.DE) might merge in 2010 already instead of 2011 as currently planned, German newspaper Die Welt reported, citing VW's finance chief.
In a very optimistic scenario and if the economy and financial markets offer particularly favorable conditions, both companies might be able to accelerate the merger, VW Finance Chief Hans Dieter Poetsch told the paper's Monday edition.
Porsche will deliver very impressive results for its operating business for the 2009 financial year and the combined group might beat its target and become world market leader before 2018, Poetsch said.
The finance chief said the merged entity will seek cost synergies through joint purchase and logistics, closer cooperation in financial services, joint development projects and the use of similar modules in both groups, die Welt reported.
While these cost synergies will be achieved swiftly, revenue synergies will take some three years to achieve, Poetsch said, according to Die Welt.
Volkswagen considers itself and Porsche as partners, Poetsch reiterated. (Reporting by Peter Dinkloh; Editing by Jon Loades-Carter)