By Leftlane Staff
Monday, Sep 26th, 2005 @ 11:00 am

Porsche said Sunday it plans to acquire a stake of about 20 percent in Volkswagen . The move aims to strengthen ties between the auto makers and prevent any future hostile takeover of VW. Porsche said Volkswagen had become a “significant supplier” for about 30 percent of its sales volume, as well as “an important partner in development.” The two companies codeveloped the platform used by the Porsche Cayenne and Volkswagen Touareg . Recent rumors indicate that the forthcoming four-door Porsche Panamera may share its underpinnings with the a new, more compact Bentley sedan. A 20 percent stake would currently cost Porsche more than $3.6 billion

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