Porsche CEO Wendelin Wiedeking defended his company’s acquisition of a significant stake in Volkswagen, saying Porsche is a long-term investor keen on ensuring VW continues to thrive. “With Porsche, VW for the first time has a major investor which is highly interested that VW in the long-term is doing well,” he said in an interview with Welt am Sonntag weekly newspaper. He said Porsche will make sure that all VW shareholders benefit from Porsche’s investment in the company. Porsche acquired 18.53 pct stake in VW in a move which some VW shareholders criticised because of conflict of interest.
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