Porsche launches mandatory offer for VW's Audi

Newswire

FRANKFURT, Sept 29 (Reuters) - Porsche launched on Monday a mandatory offer for Volkswagen AG's premium unit Audi AG , a move expected after Porsche's stake in VW gave it a de facto majority at general meetings. Porsche said in a statement it had no intention of removing Audi from the Volkswagen group and was thus offering only the legal minimum price of 485.83 euros per Audi share. The offer is valid until Oct 27. VW, which owns 99.14 percent of Audi, has already said it would not ...

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