Porsche is gunning for the majority stake in VW
German luxury sports car maker Porsche, which currently holds a 31-percent stake in Volkswagen wants to acquire majority control, informs AFP without citing sources. Newsweekly Der Spiegel reported that Porsche has already begun buying stock options that will allow it to buy VW shares at a fixed price. Stock traders told the magazine they believe that early next year Porsche will hold more than 50-percent.
In March, Porsche's stake in VW rose above the 30-percent threshold, which required it to make a takeover offer to all shareholders. Due to the low offer made by Porsche, less than one percent of all VW shareholders accepted its.
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