The Herald

Porsche to take majority stake in VW

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PORSCHE said yesterday that it has won approval from the supervisor­y board of its holding company to take a majority stake in Volkswagen, Europe’s biggest car maker, but does not plan to merge the two firms. Porsche is Volkswagen’s biggest share- holder with a stake of 31%, followed by the state of Lower Saxony, where the Wolfsburg company is based, which holds just more than 20%. Speculatio­n has swirled for months over when Porsche might move to take a majority.

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