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    Porsche to Increase its VW Stake

    Early this morning (GMT) the BBC News released in their on line version that Porsche is to increase by 3,7% its stake in VW. As the piece suggests at Porsche they're not after a full take over just for a total stake of up to 31%. Otherwise and according to the German law P would have to bid for all of VW.

    More info here

    http://news.bbc.co.uk/1/hi/business/6492715.stm

    Re: Porsche to Increase its VW Stake

    With the increase to 31% Porsche is now over 30% and has already to provide an offer to all shareholders. The offer is considered to be low, on purpose, as Porsche does not want to get the majority. It would bind too much money and they do not want to incorporate VW. With 30+% there are now basically in control as there are many shares in free flow.

    The only problem they still have is the "VW law" which limits the voting right to may 20% for all share holders. This law has historic reasons as the the state of Lower-Saxony was and still is share holder and wanted to keep the say even if the reduced the state share to less then 20%. The EU will abolish this law pretty soon and then Piech/Porsche can do what the want.

    yah

    Re: Porsche to Increase its VW Stake

    Thanks for your in-depth details.

    In any case you could have also posted them to BBC News directly, they would definitely appreciate this special report.

     
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