Porsche wants to increase its stake in Volkswagen to 24.9 pct, according to a report from German weekly WirtschaftsWoche, citing Porsche sources. Shortly after this story surfaced, Porsche rejected the report. “We deny the report,” a spokesman said, with no further comment. The original report said said Porsche CEO Wendelin Wiedeking informed Porsche managers on the sidelines of the Tokyo Motor Show in Japan about the plan. It said Wiedeking had told the managers that Porsche already holds 22 pct in VW.
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10/20, 11:39 AM
posted by:
brad
This is big news! Looks like Porsche wants to do a slow takeover
I thought Porsche already had the biggest share it could legally???
06/29, 9:42 AM
posted by:
Muzz
Not exactly, Porsche can legally have any amout of shares up to something like 50%, where it would probably have to make a takeover offer…but under the current VW Law, it wouldn’t be able to exercise anymore than 20% of the voting rights. So Porsche’s 25% still only equals 20% voting rights, until the EU brings down the VW Law like many people believe it will…