AM Online

Porsche ups VW stake to 30.9%

Porsche will increase its share in Volkswagen to 30.9% on Wednesday in order to ‘stop hedge funds dismantling company’.

The German sport car manufacturer now has to make a takeover bid under German law.

The state of Lower Saxony, Volkswagen's second biggest shareholder, said it would not sell its 20.3% to Porsche.

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