Porsche to increase stake in VW to more than 50% on Nov. 26th
Porsche recently increased its stake in Volkswagen from 31 to 35 percent making the largest German automaker a subsidiary of Porsche Automobil Holding. Now Porsche is on its way to increase its stake to more than 50 percent by Nov 26th.
According to Germany’s Sueddeutsche Zeitung, which cited unidentified sources, Porsche is scheduled to holds its annual results news conference on Nov 26th. There it will announce its absolute majority control over V-Dub.
20 percent of Volkswagen is currently held by Lower Saxony.
Source: Automotive News Europe (Subscription Required)