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bid should Germany's Volkswagen Law -- which limits any shareholder to exercising 20 percent of the voting rights -- be repealed as expected.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.