Porsche set to dip, VW gains on Porsche stake news

Newswire

FRANKFURT, Sept 26 (Reuters) - Shares in luxury carmaker Porsche were indicated as much as 6 percent weaker on Monday and Volkswagen stock traded up 2 percent after weekend news that Porsche planned to take a 20 percent stake in VW. "We assume, given the talk in the market of a size buyer of VW stock and the 14 percent rise over the last 2 weeks, that Porsche has already made a start on its 20 percent target," said Michael Tyndall, autos analyst at Nomura in London. Porsche said it now ...

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