German luxury carmaker Porsche prevented a hostile takeover attempt at Volkswagen when it bought a stake in the world's fourth largest carmaker, Porsche's chief executive told Der Spiegel.
"Guaranteed -- we broke up a possible deal for some investment bankers," Wendelin Wiedeking said in an interview with the German weekly magazine to be published on Saturday.
"When we were buying, many others were also buying, and to a great extent in fact and at prices that we never would have wanted to pay."
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