Porsche boosting its stake in Volkswagen

Porsche said today that it is increasing its stake in Volkswagen above 30 percent. Porsche has already said that it has no interest in taking over Germany’s largest auto maker but insiders are saying that Porsche will play a bigger role in decision making at Volkswagen. Before the current raise in Volkswagen, Porsche was already the largest shareholder with a 27.4 percent stake.

Porsche will now take another 3.6 percent voting stake in Volkswagen, taking its holding to 30.9 percent.