VW welcomes Porsche plan to take 20 pct VW stake

Newswire

FRANKFURT, Sept 25 (Reuters) - Volkswagen said on Sunday it welcomed a plan by luxury carmaker Porsche to take a 20-percent stake in it to ensure their long-term business ties and prevent any hostile takeover of VW. A Volkswagen spokesman quoted Chief Executive Bernd Pischetsrieder as saying a stable shareholder structure was important for its long-term business prospects and would strengthen VW's working relationship with Porsche. Porsche said earlier it planned to build up its stake ...

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