Porsche increases its Vw stake to over 50%
By Andrew C., 26 Aug, 2010. 0 Comments
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Due 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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