UPDATE 1-Porsche confirms it has 30.94 pct of VW votes

Newswire

(Adds background) FRANKFURT, March 28 (Reuters) - German sports car maker Porsche has increased its voting stake in Volkswagen to 30.94 percent by exercising an option to acquire an additional 3.6 percent VW stake, as previously announced, Porsche said on Wednesday. By exceeding the 30 percent level, Porsche is required by German law to make a takeover offer to other shareholders in Europe's biggest carmaker. It reiterated it planned to offer 100.92 euros per ordinary share and said it ...

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