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Court allows Porsche to create holding company

LUDWIGSBURG, Germany, Oct 24 (Reuters) - A German court allowed Porsche on Wednesday to create a new European holding company that has drawn the ire of labour leaders at Volkswagen and the IG Metall union.

Labour had demanded Porsche Automobil Holding SE, into which Porsche plans to put its 31 percent stake in Volkswagen, give VW workers more say in the new company. They had sought an injunction to keep the new company from being formally registered.