UPDATE 1-Porsche denies report of plan to buy more VW stock

Newswire

(Adds details, background, stock prices) FRANKFURT, Dec 21 (Reuters) - German sports car manufacturer Porsche denied a newspaper report on Wednesday that it has earmarked 1 billion euros ($1.19 billion) to buy more shares in Volkswagen , Europe's biggest carmaker. "Clear denial," a Porsche spokesman said when asked about the report in the Braunschweiger Zeitung. It cited an unidentified source as saying Porsche intended to increase its 18.5 percent voting stake in VW, which makes it ...

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