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    Mar 24, 2007 1:13:34 PM

    Porsche-Jeck
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    Porsche increases stake in VW

    http://www.porsche.com/usa/aboutporsche/pressreleases/pag/?pool=international-de&id=2007-03-24

    Like usual such news are published on Saturdays Will be interesting to see how the stock market will react next Monday...

    Mar 24, 2007 1:54:54 PM

    The Groom
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    Reply to: Porsche-Jeck

    Re: Porsche increases stake in VW

    Color me surprised.

    And Porsche AG (or is it the new holding Porsche SE?) must now make a bid for the rest of the shares it does not own. I guess Mr. Piëch is about to fulfill his dream to bring back VW to the family fold.

    Mar 25, 2007 2:49:49 PM

    ray911
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    Reply to: The Groom

    Re: Porsche increases stake in VW

    Quote:
    The Groom said:
    Color me surprised.

    And Porsche AG (or is it the new holding Porsche SE?) must now make a bid for the rest of the shares it does not own. I guess Mr. Piëch is about to fulfill his dream to bring back VW to the family fold.



    They did already. The bid is low and will not bring many investors to take the offer and trade in their shares. This is obviously also what Porsche wants to save cash.

    yah

    Mar 26, 2007 8:54:29 AM

    easy_rider911
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    Reply to: ray911

    Re: Porsche increases stake in VW

    More discussion on this topic from the BBC:

    http://news.bbc.co.uk/1/hi/business/6494593.stm

    Mar 27, 2007 10:45:25 PM

    911digital Offline
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    Reply to: easy_rider911

    Re: Porsche increases stake in VW

    I wish porsche would just buy the whole lot and have done with the little nibble increases every 6 months....

    Mar 28, 2007 2:28:52 AM

    Mithras
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    Reply to: 911digital

    Re: Porsche increases stake in VW

    I don't see them going much over what they have now as long as the State of Lower Saxony stays as an ally. As long as Lower Saxony and Porsche's two voting blocks vote together they have a 51% stake and a majority.

    Mar 28, 2007 11:05:59 AM

    easy_rider911
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    Reply to: Mithras

    Re: Porsche increases stake in VW

    Apparently the 'Volkswagen law' limiting voting power to 20% irrespective of shares held won't last long if the EU gets its way...

    Mar 28, 2007 11:59:20 AM

    EricAlain
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    Reply to: easy_rider911

    Re: Porsche increases stake in VW

    The "VW Law" should be abolished very shortly hence this move from Porsche.

    Mar 28, 2007 2:37:27 PM

    Carlos from SpainM
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    Reply to: EricAlain

    Re: Porsche increases stake in VW

    Eric, do you have any opinions onto how far Porsche is likely to go with these moves on VW? will they eventually "control" VAG group?

    Mar 28, 2007 3:02:50 PM

    BSL
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    Reply to: Carlos from SpainM

    Re: Porsche increases stake in VW

    Quote:
    Carlos from Spain said:
    Eric, do you have any opinions onto how far Porsche is likely to go with these moves on VW? will they eventually "control" VAG group?



    Isn't this already the case? Piech runs VW. The company he and his family own and essentially control is now buying the company he runs. Not sure this would pass muster by the SEC in the US.

    Mar 29, 2007 4:41:00 PM

    EricAlain
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    Reply to: BSL

    Re: Porsche increases stake in VW

    I suspect ultimately Porsche will raise its stake over 50%. However for the time being they already control the company so there is technically no need to go from 31% to over 50%.

    VW has a supervisory board made of 20 members:
    - 10 are union representatives and are for the time being pro-Porsche
    - 3 are Porsche AG representatives (actually Porsche has only 2 seats as of today but has asked for a 3rd one)
    - 2 are devoted to the state of Lower Saxony that has declared they were now acting in concert with Porsche
    - 5 seats are for independant members ...

    Bottom line Porsche is controlling 15 seats out of 20... More importantly, Dr F Piech head of VW's Supervisory board is one of Porsche largest shareholder.

    Mar 29, 2007 7:51:19 PM

    Carlos from SpainM
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    Reply to: EricAlain

    Re: Porsche increases stake in VW

    very interesting Eric
     
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