The ongoing saga, "As the VW Takeover Turns" received a new update via Germany's Der Spiegel news mag (think Time, Newsweek, etc.), where a report revealed that Porsche is aiming to raise its stake in Volkswagen to 51-percent.
The Deutsch weekly cited unnamed stock market sources that claim Porsche is pursuing shares at a set price and that the move may come at the start of 2008. Currently, Porsche has a 31-percent stake in VW, after its initial takeover bid took place in March, with only one-percent of V-Dub shareholders accepting the offer. The additional shares needed to gain a majority stake in VW may come from the 20-percent held by the state of Lower Saxony.

Both Lower Saxony and Porsche have denied the plans so far.

[Sources: Reuters, Forbes]


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