AM Online

Porsche wants 20% VW stake

Porsche has announced it wants to buy a 20% stake in Volkswagen.

Such a move would boost the prestige carmaker’s current share of 5% to the largest share in the company, overtaking the state of Lower Saxony which holds an 18.2% stake.

Porsche said the move was based on the close relationship between the two carmakers in development and manufacturing, describing Volkswagen as "not only an important development partner but also a significant supplier for about 30% of sales volume" for Porsche.

"The stake will in no case reach the level at which Porsche would have to make a public offer to take over VW," Porsche said.

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