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Porsche increases its Vw stake to over 50%

Porsche LogoDue to some turning points in the stock market Porsche Automobil Holing has boosted its stake in VW exceeding the 50% mark providing it control over the Swedish truck manufacturer Scania where Volkswagen owns 69% of its shares.

Previously Porsche only owned 42.6 percent of VW, but it now owns 50.76% of the German automaker when it acquired 8.16 percent at 6.1 billion euros (or $8.49). However, Porsche is further planning to increase its stake on VW to 75% within the current year.

[source automotivenews]

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This entry was posted on Wednesday, January 7th, 2009 at 12:47 am and is filed under 2009, 4wheels News, Automakers, Porsche, Volkswagen, Worldwide, Year, Zone. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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