Porsche is preparing to takeover Volkswagen
October 29th, 2007 by Ephemeris
On Tuesday, the European Court of Justice ruled against a 47-year-old German law that protected Volkswagen against hostile takeovers. After the court announced its decision, Volkswagen shares fell nearly 6 per cent to 169.73 euro.
This opens the door for a takeover by Porsche, which has already amassed a 31% stake in Volkswagen in last two years, Porsche being interested in acquiring a controlling stake of VW.
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