Porsche says to acquire 20 percent stake in VW

Newswire

BERLIN, Sept 25 (Reuters) - German luxury carmaker Porsche AG wants to acquire 20 percent of the voting shares in Volkswagen AG , Porsche said in a statement on Sunday. Porsche said it wanted the stake, worth around 3 billion euros ($3.64 billion), to ensure its business ties with VW remained intact. Spiegel magazine had reported in its online edition on Saturday that Porsche was working with Merrill Lynch on the project.

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