Porsche CEO's VW plan deals blow to minorities

Newswire

By Christiaan Hetzner FRANKFURT, Sept 26 (Reuters) - Wendelin Wiedeking, the outspoken chief executive of Germany's legendary sports car maker Porsche , is anything but a devout proponent of shareholder value. But investors holding Porsche non-voting stock never dreamed the otherwise conservative businessman would spend billions to protect the independence of Europe's largest carmaker, Volkswagen , via a 20 percent stake purchase. Privately controlled but publicly listed Porsche has ...

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