Just last month, Porsche made another move toward fulfilling its vow to take over Volkswagen. Sunday, Porsche again increased its stake, giving it almost 43% of the Beetle-maker.

"The goal remains, as long as the financial conditions are right, to increase [the stake] to 75 percent in 2009 and clear the way for a controlling stake," Porsche said in a press release.

After last week's big meeting between the two companies and, more significantly, since Porsche's stated goal is to own 50% of VW by the end of November, this new step is really no surprise.

[Source: The Associated Press via The Detroit News]


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
  • From Our Partners

    You May Like
    Links by Zergnet
    Cars for Sale Near You

    Share This Photo X