VW Group Works Council Chief Says the Automaker Should Stop its Shopping Spree

What the VW Group wants, the VW Group gets - from the humble Skoda and Seat brands to posh automakers Lamborghini, Bentley and Bugatti and track makers Scania and MAN.

Alfa Romeo got away but only because Fiat CEO Sergio Marchionne wouldn't sell –though, with the Italian group facing its fair share of trouble, if the Germans make them an offer, you never know...

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DRB-Hicom Declines Offer for Lotus, VW Reportedly Interested in Parent Company Proton

Last week, Reuters reported that the ever-expanding Volkswagen Group is considering to place a new bid for Proton, which owns the Lotus brand, some five years after the Germans failed to form a tie up with the Malaysian carmaker as it seeks to extend its reach in the southeast Asian markets.

Today, DRB-Hicom, which acquired a 42.7 percent stake in Proton earlier this year, said that it had received an offer from an unnamed foreign company to buy Lotus for £1 (US$1.6 / €1.3) and take over the British company's debts that amount to more than £200 million (US$311 million / €257 million).

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Lotus Group CEO Reportedly Seeking New Owner for the British Sports Car maker

For the past couple of months, there were rumors circulating that Proton wanted to get rid of its loss-making Lotus unit selling it to either Genii Capital or SAIC. Then, on January 16, the Malaysian carmaker announced that DRB-Hicom had acquired the government's 42.7 percent stake in the company.

Analysts hailed this movement as a win-win situation for both parties. They obviously didn't factor in Lotus CEO Danny Bahar who, according to a report from The Sunday Times citing unnamed sources, is looking for a partner to join him in bidding for a buy-out of the British automaker.

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