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Porsche seeks to raise VW stake

Porsche is reported to have filed a request with the federal German competition authorities for its consent to a further increase in its stake in Volkswagen Group, involving the acquisition of a further 3.9% of VW shares.

It would bring its holding to 25.1% - enough to involve a controlling interest subject to the eventual repeal of Germany’s ‘VW Law’ at the behest of the European Commission.

Porsche may exercise its growing influence on VW at the latter’s next supervisory board meeting set for July 19, when restructuring of some of the group’s wholly-owned supply operations is likely to be announced.
Source: FT

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