Porsche says to up Volkswagen stake soon

Newswire

STUTTGART, Germany, Aug 21 (Reuters) - Porsche , the largest shareholder in Volkswagen , will soon exercise a call option to raise its voting stake in Europe's largest carmaker to just over 25 percent, Porsche said on Monday. The holding in VW would then hand the sports car maker a blocking minority and likely prevent any hostile takeover bid should Germany's Volkswagen Law -- which limits any shareholder to exercising 20 percent of the voting rights -- be repealed as expected. "We want ...

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