Porsche expects to up VW stake soon

Automotive News Reported today that, Porsche, the largest shareholder in Volkswagen, will soon exercise a call option to raise its voting stake in Europe's largest carmaker to just over 25 percent, Porsche said today.

The holding in VW would then hand the sports car maker a blocking minority and likely prevent any hostile takeover bid should Germany's Volkswagen Law -- which limits any shareholder to exercising 20 percent of the voting rights -- be repealed as expected.

"We want to increase our stake in the near future," a spokesman for Porsche said, without providing further details.

Volkswagen is a close partner for Porsche, with the two collaborating on the Cayenne SUV, the Panamera four-door model in development, and a hybrid powertrain.

CarNut - 8/23/2006 7:28:43 AM

+1 Boost

I cannot believe noone is comenting on this!!!
I guess from now on Audi haters will be saying Audis are rebadged VWs, which by their level of thinking means VWs will be rebadged Porches