VW shares up 80 percent over plans for increased investment from Porsche
10/27/2008, 9:53 AM
By Andrew Ganz
Volkswagen’s stock is up nearly 80 percent today thanks to Porsche’s announcement that it plans to increase investment in the automaker from 42.6 percent to 75 percent by the end of 2009. Porsche Automobil Holding SE announced yesterday that it had increased its share in Volkswagen to 42.6 percent.
“The goal remains, as long as the financial conditions are right, to increase [the stake] to 75 percent in 2009 and clear the way for a controlling stake,” Porsche said yesterday in a press release.
The deal is certain to raise objections from the German state of Lower Saxony, which owns just greater than 20 percent of Volkswagen. The European Union is pushing to overturn the law that allows the state to have a blocking right.
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10/27, 10:38 AM
posted by:
A4
porsche is going to turn VW into toyota
ew
10/27, 11:37 AM
posted by:
Madcapp
Less government oversight!!!!!
10/27, 12:54 PM
posted by:
Impulsive
Nobody cares.
10/27, 1:01 PM
posted by:
mayer_ray_nagin
Niedersachsen über alles!
10/27, 6:38 PM
posted by:
deutschetouring1337
Well Porsche finally has control of VW AGAIN lol.
10/28, 1:57 AM
posted by:
moochung
“increase investment” in Regular People Speak….BRIBES, to own vw in future…
BUY BUY LAMBORGHINI it was so good while you were around….
10/28, 8:14 AM
posted by:
BMW M1
umm dont u mean bye bye Lambo??