UPDATE 1-Porsche drops, VW gains on Porsche stake news

Newswire

(adds stock prices, market reaction, background) By Michael Shields FRANKFURT, Sept 26 (Reuters) - Shares in luxury carmaker Porsche fell more than 10 percent on Monday and Volkswagen gave up early gains after weekend news that Porsche plans to take a 20 percent stake in VW, denting prospects for a hostile takeover of Europe's largest carmaker. By 0732 GMT, Porsche fell 10.3 percent to 607.99 euros and VW was off 2.1 percent to 50.75, after touching an early high of 52.75, as the ...

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