matyas
Well-Known Member
It seems Porsche has finally done it...even though this doesn't mean they can make changes easily, because of German law. However I do think this is quite an achievement. Congrats Porsche!
http://news.bbc.co.uk/2/hi/business/7813073.stm
Most valuable company
Porsche now holds 50.76% of the voting shares in VW, up from 42%.
It had hoped to raise its stake above 50% last year, but delayed it because of a dramatic rise in the share price.
VW shares rose from 210 euros to more than 1,000 euros per share in two trading sessions in October, which briefly made VW the most valuable company in the world.
The price spike was caused by hedge funds desperately needing to buy shares after it emerged that Porsche controlled much more shares in VW than had been thought.
The takeover will see Porsche, a family-owned manufacturer of about 100,000 luxury cars a year, own the world's third-largest carmaker, which makes five million vehicles a year.
http://news.bbc.co.uk/2/hi/business/7813073.stm
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