Porsche at Volkswagen's wheel = Porsche takes effective control over VW

Reply Tue 16 Sep, 2008 10:54 am
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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Reply Tue 16 Sep, 2008 11:19 am
@Walter Hinteler,
In Germany this kind of nasty take-over and shape according to MARSHAL masters is no more an easy job nor a cake walk.
We had seen all kind of revolutions around the globe.
Obama get as much respect as Dalai lama.
The corporate Ceo's in Germany earn far far far far less than the cultureless vultures in USA.
I will post with my cut and paste to make this thread a lively forum.
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