Porsche to acquire majority of VW in autumn -paper


HAMBURG, April 24 (Reuters) - Porsche expects to receive regulatory approval for its majority acquisition of Volkswagen's voting stock in September or October, the Financial Times Deutschland reported.

In a story to be published in its Friday edition, the German business daily wrote Porsche will then lift its voting stake from 31 percent to over 50 percent.

When asked about the report, a spokesman for Porsche said: "Approval will take at least four months, realistically six, but it could also take eight."

Porsche announced early in March that it aimed to acquire majority control of Volkswagen. (Reporting by Christiaan Hetzner; Editing by Andrew Hurst)



Follow Us

Sponsored Introduction Continue on to (or wait seconds) ×