Filed under: Euro, Government/Legal,
Porsche,
Volkswagen, Earnings/Financials
The latest in
Porsche-
Volkswagen relations is that the sports car maker has contingencies in place to raise its stake in the
Volkswagen Group, but at this point is not planning an outright takeover.
As you may recall, when
Porsche recently increased its ownership in
Volkswagen AG, it was bound by German law to make an offer to purchase controlling interest. The offer
Porsche submitted to
Volkswagen shareholders was purposely low because
Porsche didn't want to fully take over
Volkswagen.
That law is now on the verge of being repealed, leaving the door open for
Porsche to further increase its stake, but that doesn't mean that it will automatically take the opportunity to further entrench the anschluss between the two companies founded by Ferdinand
Porsche. If, however,
Porsche's position on the
Volkswagen board is threatened, it could increase its stake up to 50-percent without any further bureaucracy and legal issues, but for now it plans on staying where it is.
[Source: Reuters] Read | Permalink |
