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Porsche still plans to merge with VW

A five-billion euro capital increase is supposed to take place by the end of May, though it could be pushed back until the end of August.

A full merger might be delayed until 2012 owing to legal proceedings against two former Porsche executives in connection with the failed takeover attempt.

Meanwhile, VW also plans to build a strong heavy truck unit with stakes it owns in the Scania and MAN brands.

That division "is a strategic activity for Volkswagen," Winterkorn said, and recorded a 50 per cent increase in sales last year.

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