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Monday, March 26, 2007

Porsche: Buying more and more of VW

Porsche
Porsche will increase their stake in Volkswagen. What a good choice!
The tail keeps wagging the dog over in Germany, as low-volume Porsche is again looking to bump its stake in high-volume Volkswagen. This time, Porsche's supervisory board authorized increasing its stake to 31%, an action which would require the luxury sports maker to make a bid for VW itself. Porsche expects the mandatory bid (any stake increase over 30% requires a full bid) for VW will cost $134 a share.


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Source: Autoblog

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