Porsche stake in VW unlikely to change soon; a new "VW law" could return
But Lower Saxony had a much bigger shark on its side in the form of the government in Berlin. Politicos in the German capital have been drafting a law that would "replace" the "Volkswagen law" and put Lower Saxony, with its 20.1-percent holding in VW, back in effective control of the company. The law still has hurdles to overcome, such as approval by the German parliament and then approval by the EU. Frankly, we don't see how the EU could approve the law if it artificially inflates the state's position over that of a shareholder. Porsche is going to wait for the law, and elections in Lower Saxony, to run their courses before proceeding with its efforts to take a majority stake. Der Saga continues.
[Source: Automotive News - Sub. Req.]
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