Porsche SE to use bulk of cash for acquisitions

Newswire

FRANKFURT, Oct 30 (Reuters) - German financial holding company Porsche SE plans to use most of its 2.59 billion euros ($3.34 billion) in net cash for strategic acquisitions in businesses linked to the automotive industry, the company said on Tuesday. Ever since selling a majority in Porsche sports cars to Volkswagen in August, the Stuttgart-based company has become a pure financial holding whose value depends mainly on the market capitalisation of VW and its cash pile. ...

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