UPDATE 1-Porsche reveals details of major capital increase

Newswire

* Net proceeds of cap hike to reach 4.89 bln euros * Subscription price set at 38 euros per share * Porsche expects BaFin to approve deal March 28 (Adds details, background) By Josie Cox FRANKFURT, March 27 (Reuters) - Debt-laden German carmaker Porsche SE has approved an almost 5 billion euro ($7 billion) capital increase, clearing the way for a merger with Volkswagen , the group said late on Sunday. Porsche said it had fixed the subscription price for the new ordinary and ...

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