I have always believed Porsche was the overpriced version of a VW. It appears now that is more real than ever. Would it really be that terrible if a "Foreign" investor bought a stake in VW? I guess the people at Porsche and VW think so.
Porsche AG said Monday that it has won approval from the supervisory board of its holding company to take a majority stake in Volkswagen AG, Europe's biggest car maker, but does not plan to combine the two automakers.
Porsche is currently Volkswagen's biggest shareholder with a stake of 31%, followed by the state of Lower Saxony, where the Wolfsburg-company is based, which holds just more than 20%. Speculation has swirled for months over when Porsche might move to take a majority.
But analysts have said such a move would probably be done to protect Volkswagen from a foreign takeover.
On Monday, the supervisory board of Porsche Automobil Holding SE held an extraordinary meeting and authorized Porsche managers to set in motion steps needed to gain regulatory approval for the move, Porsche said.
Recent Comments