Porsche: To put more money in Volkswagen

Porsche's interest in Volkswagen is increasing!

Luxury automaker Porsche AG said Wednesday its supervisory board approved a move to increase its stake in Volkswagen AG to a level just shy of the 30 percent level that would require it to make a takeover offer.

The Porsche board authorized an increase to 29.9 percent from 27.4 percent. Porsche is already Wolfsburg-based Volkswagen's biggest shareholder.

Related news: GermanCarBlog, P4MR, Porsche

Source: German Car Scene, via chron.com

Watch more TV. The German Car TV.

Read more