Volkswagen and Proton tie-up talks have made some progress, after a meeting between Proton Holdings Bhd and Volkswagen AG in Bangkok recently.

Apparently Volkswagen has dropped it’s insistence to have a controlling stake in Proton, and details of the proposed partnership has been revised. The issue of the controlling stake has been a main stumbling block in the talks so far. But Proton officials has not confirmed this matter.

Bernama also reports Proton is exploring multi-party strategy involving relationships with General Motors and Mitsubishi.

In other news, Proton shares went up 15 sen to RM6.30 after the announcement of it’s MV Agusta share disposal. Mayban Research has set a target price and fair value of RM7 for Proton shares. Shares should go up again after this tie-up progress announcement.