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Porsche to control VW

Used Porsche

23 May 2003
Porsche has been given the green light by Germany's anti-trust authorities to buy a controlling interest in Volkswagen. The authorities gave the OK for the iconic sports car maker to purchase an additional 3.5 per cent of stock to bring its holding to over 25 per cent.

What this means is that the struggling VW is immune to a hostile foreign take-over, as 75 per cent of the vote would be required. Porsche has been buying VW stock at a cost of €3.8 billion since last September.

Porsche is not keen to see the company fall into the wrong hands from its point of view, and this last move of the financial chess pieces now secures its position. The ties between Porsche and VW began in the 1930s -- Ferdinand Porsche as of course the designer of the Beetle. The links survived the war, since when Porsche has relied heavily on VW for parts, manufacturing facilities and joint projects such as the Cayenne/Touareg. (Pistonheads)

Migration info. Legacy thread was 66772
I'm an accountant for 2 VW dealerships - does that mean i'm gonna get a Porsche company car?? :)

Migration info. Legacy thread was 66776
since Porsche pulled out of the original Cayenne project with Mercedes-Benz, after they demanded a 50% stake the day before the global annoucement.... thank god they said no and they went off to yanks !

the VW ties have got stronger and stronger

Migration info. Legacy thread was 66778
So is VW not doing that well ? With Seat and Skoda you would think things would never be bad !


Migration info. Legacy thread was 66790

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