This Porsche – Volkswagen takeover news just seems to be going on forever. After being forced to refile for regulatory approval, Porsche is suffering a setback in its plan to takeover Volkswagen. During the one-month delay Porsche had to agree to by another 4.9 percent in Volkswagen due to procedural shortcomings.
The German automaker now owns a 35.5 percent stake in V-dub, up from 31.
“The delay is slightly bad news, but we still expect antitrust approval,” Robert Heberger, an analyst at Merck Finck, wrote in a note to clients.
Porsche recently received the approval to increase its stake in Volkswagen from U.S. antitrust authorities.
Source: Automotive News (Subscription Required)