Lower Saxony buys VW shares to keep 20 pct stake

Newswire

HANOVER, Germany, May 29 (Reuters) - The German state of Lower Saxony has spent about 41 million euros ($55.2 million) to buy more Volkswagen shares and keep its voting stake at about a fifth, the state's finance ministry said on Tuesday. "We wanted to prevent the state's stake from sinking below 20 percent," a ministry spokeswoman said, confirming a report by the Hannoversche Allgemeine Zeitung newspaper. VW employee share plans had threatened to pull the state's stake below the 20 ...

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