German cabinet to back new VW law next week-paper

Newswire

BERLIN, May 22 (Reuters) - German Chancellor Angela Merkel's cabinet will next week approve a revised law to shield carmaker Volkswagen AG from takeover, newspaper Bild reported on Thursday. Germany was forced to draw up a new law after the European Union's top court ruled last year that the existing one was illegal because it hindered the free flow of capital. The existing law stopped rival carmaker Porsche from taking control of VW because it effectively gives the German state of Lower ...

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