• Sep 16th 2008 at 12:32PM
  • 19
Porsche has raised its stake yet again in Volkswagen, going from a bit above 30% ownership in the German giant to a solid 35.14%. The purchase apparently gives Porsche, or rather the company that owns Porsche – Porsche Automobil Holding SE – control over VW. It released a statement today that said, "as a result of this acquisition, Volkswagen... has become a subsidiary of Porsche Automobil Holding SE." Pursuant to German securities law, Porsche also made an offer to purchase Audi at the bare minimum stock price of 487 euros per share. Though Porsche says there are no plans to separate Audi from VW, it's unlikely VW will accept the offer anyway. All of this is but a single step on Porsche's long path to securing more than 50% ownership in VW. In the meantime, VW representatives will now have a seat on Porsche Automobil Holding's employee council and supervisory board. The power struggle between these two companies will undoubtedly continue, with Porsche Chairman Wolfgang Porsche leading the charge for his company while his cousin, Ferdinand Piech, holds court for Volkswagen and the powerful labor unions that are trying to stop this takeover.

[Source: Automotive News, sub. req'd]

I'm reporting this comment as:

Reported comments and users are reviewed by Autoblog staff 24 hours a day, seven days a week to determine whether they violate Community Guideline. Accounts are penalized for Community Guidelines violations and serious or repeated violations can lead to account termination.

    • 1 Second Ago
      • 7 Years Ago
      Seen VW's stock lately?
      • 7 Years Ago
      if porsche can make VW AG a lean well organised trimmed machine than im for it..who better to be married to VW than Porsche..just dont f@@@k it up!! VW,be VW again.VW AG must remain pure,must remain german..and run like a well oiled machine

      ..Das soap opera Auto
        • 7 Years Ago
        I'd go to Porsche if I wanted advice about derivatives trading, not running the largest car company in Europe.
      • 7 Years Ago
      But how does this affect Bugatti...
      • 7 Years Ago
      Good bye Audi R8, future R and RS models...

      Porsche will have none of that!

      Just when Audi had transformed itself into having arguably one the most exciting portfolios in today's car market - with the release of very successful models from the RS4, RS6, new S5, and R series (R8, upcoming R models) it has now met it's demise...
        • 7 Years Ago
        While I can see danger for the R8, the R/S/RS 4/5/6 will be safe as they don't compete with any of Porsche's current lineup, and even when the Panamera is released, I imagine that'll be positioned well above any of them.

        The car I see most at risk from this is the Lambo Gallardo. What with the R8 and various 911 models, Porsche might decide to push Lambo up market, getting rid of the entry level car and concentrate on Murcielago class cars
        • 7 Years Ago
        no danger for any perfromance model.. you never hurt the hand that feeds you!

        The largest part of the money that Porsche earns comes via their stocks of Volkswagen AG and the giant win Volkswagen AG makes since many years... and inside the Volkswagen AG, Audi is the largest money making mashine... cutting of prestige models from Audi would be for Porsche like throwing away their own money or cutting off their own models.

      • 7 Years Ago

      It's all good if Porsche gains absolute control - they've said that the current USA situation is not acceptable and that ol' Piech (sp) for all his engineering expertise and his ideas are not what VW needs.

      To that, what has he done for the USA market? Too, what has the 'Lower Saxony' board done for us? As a long time VW owner/driver, I'm tired of VW models we want that don't come here. It's absolute BS to have a company that can design and make the goods be hand-cuffed by a bunch of ego-maniacal control freaks TELLING us what we need.

      Give it back to the Porsche Family and let them have at it.
      • 7 Years Ago
      how will this effect SEAT,Skoda,Bentley,Buggatti and Lambo??
      Das Auto
      • 7 Years Ago
      Is the share price listed in the entry of 487 Euro per share accurate? That is a TON of money.

      Not sure I agree with what some of you are saying about Porsche putting the kabash on high performance Audi models. Does an RS 4/6 really compete with anything Porsche has in it's stable? I suppose if that horrible looking panamerica comes out that will be it??

        • 7 Years Ago
        It's lower than today's trading value, but it's no typo: http://uk.finance.yahoo.com/q?s=NSU.DE

        And I agree that people are likely hugely overreacting to the future prospects for Audi's high-performance models. Even if they did compete directly with Porsche's products (which they largely don't), they serve a crucial role in placing Audi in the consumer's mind as a credible alternative to BMW or Mercedes. The RS cars give real credibility to Audi's higher volume sport sedans, and for that reason alone I think we can expect them to continue.
        • 7 Years Ago
        So you missed the whing from Porsche about the use of the R in models, especially they wanted to call a new audi a TT RS. Porsche will not want cars competing with their cars. R8 and the Bugatti will all wave out. Lambo may have issues. VW had no issue with models that were in similar categories, but Porsche will have none of it. They aren't smart enough to embrace them all.
      • 7 Years Ago
      Soon: Porsche buys Pentagon - spike in volunteers...
      • 7 Years Ago
      b montgomery - i'm entirely with you.

      i've now resigned myself to porsche taking over vw and audi. i just hope the process takes enough years so that audi can put out a few more super-powerful performance cars before porsche takes control and shuts everything down.
      • 7 Years Ago
      Sachsen is gonna throw a fit. sit back and watch the sparks fly ... i hope they lose control, German government has done nothing but mess up the country over the last 15 years.
      • 7 Years Ago
      I read elsewhere VW felt underrepresented on the supervisory board. I actually feel kinda bad for them as odd as that may sound.
    • Load More Comments
    Share This Photo X