Porsche says does not want majority in Volkswagen

Newswire

FRANKFURT, March 24 (Reuters) - Porsche does not want to acquire majority control of Volkswagen even though it has launched a takeover bid for Europe's largest carmaker, a spokesman for Porsche said on Saturday. "We do not want a majority," he said. Porsche plans to raise its current 27.3 percent voting stake to up to 31 percent, it said earlier, which then requires a mandatory takeover bid to be made under German law. The spokesman said that making the takeover bid now removes the ...

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