VW axes talks with Porsche

GERMAN carmaker Volkswagen (VW) said yesterday it was abandoning talks with its major shareholder, Porsche, which were scheduled for today.<br /><br />A spokesperson for the company said&nbsp;there was &ldquo;currently no atmosphere for constructive talks.&rdquo;<br /><br />The meeting had been called to discuss the possibility of a planned integration by VW into Porsche.<br /><br />But VW put a dampener on proceedings after saying that Porsche would have to slash its &euro;9bn debt pile&nbsp;before the two carmakers could integrate.