Industry News
German authorities approve increase in Porsche’s VW holding
7th July 2006
The German Federal Cartel Office is reported to have signalled its approval today of Porsche AG's plans to increase its stake in Volkswagen AG. Porsche spent about €3.5 billion late last year to increase its stake in VW to 18.5%, and subsequently increased it to 21.2%. Porsche had announced in June that it wanted to buy another 3.9% of Volkswagen subject to regulatory approval.
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