FRANKFURT, March 23 (Reuters) - German sportscar maker Porsche on Friday said it was not buying preferred shares in Volkswagen . "Porsche is buying no preferred shares," a spokesman said. Volkswagen shares rose as much as 7.6 percent earlier on Friday amid market talk that Porsche was buying the preferred shares, dealers said. The rise was driven by a report in Germany's Manager Magazin periodical that Porsche, already VW's biggest shareholder, was increasing its stake, dealers said.
Premium Content (PAID Subscription Required)
"Porsche says buying no VW preferred shares" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
For WardsAuto.com pricing and subscription information please contact
Lisa Williamson by email: firstname.lastname@example.org or phone: (248) 799-2642