Porsche Automobil Holding SE previously held a stake of a little more than 30 percent and has said it plans to raise that to a majority holding. It said it acquired an additional 4.89 percent for an unspecified amount on Tuesday -- taking its share of the voting rights to 35.14 percent.
Thus, VW has become a subsidiary of Porsche Automobil Holding under German laws.
"Our goal continues to be to increase our stake in Volkswagen to more than 50 percent," chief executive Wendelin Wiedeking said. "Today's step is a further milestone along this road.
More at the
Chicago Tribune.
Background stories about the "family feud" by the
FT and
Spiegel online
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