Chairman says VW should integrate Porsche in merger

OLBIA, Italy May 12 (Reuters) - Volkswagen (VOWG.DE) should integrate its majority shareholder Porsche SE (PSHG_p.DE) in any future merger, the chairman of VW, Europe's biggest carmaker, said in remarks embargoed for Tuesday.

Ferdinand Piech told journalists at a car launch that Porsche must first solve its debt problems before details of a merger with Volkswagen (VOWG.DE) could be worked out.

"I cannot imagine that VW would assume another company's risks," said Piech, who is also a shareholder in Porsche, adding that he was not in favour of selling a stake in Porsche to an outside investor.