Wednesday, September 17, 2008

Porsche claims control of VW

German sports car maker Porsche has effectively won control of Volkswagen, Europe’s biggest auto maker.Porsche issued a statement that it has boosted its stake from 31% to over 35%, a controlling interest under German law.And it says it wants this to increase to more than 50% by the end of the year.This comes amid rising tension on many fronts.VW Chairman Ferdinand Piech is Wolfgang Porsche’s cousin, but he has effectively voted against his family. Euronews...

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