UPDATE 3-Porsche stock drops on plan to take VW stake

Newswire

(Adds VW comment, updates market reaction) By Michael Shields, European Auto Correspondent FRANKFURT, Sept 26 (Reuters) - Porsche stock fell as much as 11.7 percent on Monday on concern its plan to acquire 20 percent of Volkswagen will wipe out cash the world's most profitable carmaker could have given investors. The voting stake in Europe's biggest carmaker would cost about 3.3 billion euros ($4 billion), but Porsche said it could still finance projects such as its new Panamera sports ...

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