Porsche is looking to have attained a majority share in Volkswagen by November 26 at the latest. The automaker would increase its share from 35 percent (currently) to more than 50 percent within six weeks in order to take complete control of Wolfsburg, Germany-based Volkswagen.
Sueddeutsche Zeitung, a German newspaper, reported that the carmaker wants to be in control of Volkswagen in time for Porsche’s annual results news conference held on November 26. Just weeks ago, Porsche took over a controlling share in Volkswagen. Under German law, a party must obtain more than 35 percent of a company to be considered a controlling shareholder.
Porsche is also still reported to be seeking full ownership of Audi.
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10/08, 2:44 PM
posted by:
autonut
I wonder if Porsche plans to build cars along the way. Sounds like specialty automaker taking over major brand. It was fashinable business in US before ‘87 meltdown. Was called “junk bonds financing” then. I wonder how Porsche is paying for those controlling packages.
10/08, 4:30 PM
posted by:
yarddog82abn
It looks like Porsche will something to be grateful about…..
10/08, 4:48 PM
posted by:
A4
i hope everyone stops paying their porsche payments and they go into financial failure… i hate them
10/08, 4:49 PM
posted by:
TOZO
Take it all!
10/09, 12:12 AM
posted by:
johnnycanuck
I really want to see how all this peace and harmony is going to affect what comes off the assembly line. You think VW products had quality issues in the past…. Chances are we’ll be yearning for the ones made in Mexico.
10/09, 3:06 PM
posted by:
beatusmongous
A4, Porsche already got their money. The banks that financed the buyers are the ones that have all the risk, not Porsche. If people stopped making their payments for their Porsches, the banks would be in trouble, and that would further hurt only the economies where the banks are residing (i.e. our own country).
10/09, 7:39 PM
posted by:
VWgrouP
NOOOO!
This is terible, Volkswagen…TERIBLE
I really dont like this situation..
Awell, atleast Volkswagen Owns the greatest automakers in the WORLD…
10/09, 8:38 PM
posted by:
moochung
They should never have let them get this far, this is going to have big affects on the other car makers under vw ie lambo….if porsche are the owners you think they wont put their foot down on what car bits go where and what should an shouldnt have more power porformance……..big mistake vw BIG…..