Porsche Moves Again And Takes Over Nearly 75% Of Volkswagen Shares

Porsche Automobil Holding SE on Sunday said it had a near-75% stake in Volkswagen AG, a much larger stake than the market expected, and said it wanted to tighten its grip on Volkswagen with a so-called domination agreement that would give it access to Volkswagen's cash flows.

Porsche announced it had control of 31.5% of Volkswagen through cash-settled options in addition to the 42.6% of shares it currently holds, leaving it just 0.9% short of the 75% level needed to log Volkswagen's revenues and assets in its own books.

Read Article

B7FAN - 10/27/2008 12:34:19 PM

+1 Boost

nice move porsche maybe now VW will have a prosche variant!!!!!

uall - 10/27/2008 1:46:22 PM

+3 Boost

Damn...i was thinking of buying Vdub shares yesterday...They went up ~150% this day.

ThierryHenry14 - 10/27/2008 5:19:57 PM

+4 Boost

So according to this (to all the fanboys **AMAZINBIMMER**) if Audi = VW, because VW owns Audi, then Audi = VW = Porsche, because Porsche owns VW.

Wow, that makes me even a prouder owner of a Porsche A4...

goojman - 10/27/2008 8:09:23 PM

-2 Boost

Maybe Porsche can help VW improve their shit reliability.

S4cabriofoxone - 10/27/2008 9:32:01 PM

0 Boost

Wow, I can't wait to see what happens out of this. Hopefully it's something a bit more exciting than the Cayenne/Touareg/Q7.

woood - 10/28/2008 12:30:14 AM

+1 Boost

Definitely more exciting and IMO, Porsche is only getting back what was theirs in the first place.

S4cabriofoxone - 10/28/2008 6:25:05 PM

+2 Boost

Well, Porsche never actually owned VW... it was more that Porsche was the offspring of VW. Which makes this an ironic twist. Interestingly enough Porsche will become the most formidable sports car maker in the world, being the head of its own brand, Lamborghini, Bugatti and Bentley.