Volkswagen: Offering Porsche bigger stake

Reuters is reporting that Volkswagen is offering Porsche another 3.4 percent stake via a capital increase.

Luxury carmaker Porsche is already in the process of securing a 18.53 percent stake in Europe's largest carmaker, which would make it the largest shareholder in the mass car producer once the transaction is completed later this month.

Weekly magazine Der Spiegel, in an advance copy of a report to be published on Monday, said VW CEO Bern Pischetsrieder had offered Stuttgart-based Porsche to arrange a capital increase in which other shareholders would be excluded from participating.

Volkswagen declined to comment on the report, while Porsche said it was not aware of such plans.

GermanCarBlog, Volkswagen, Porsche

Source: Reuters

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