Posts tagged Majority stake at Autoblog

Posts with tag majority stake

VW CEO threatens to resign if Porsche interferes

Posted Jun 2nd 2008 11:01AM by Dan Roth
Filed under: Etc., Euro, Audi, Porsche, Volkswagen

It looks like Porsche's aggressive advances at Volkswagen are less than welcome by Volkswagen's management. Its CEO, Martin Winterkorn, has warned Porsche to keep its mitts out of operations, saying that he will resign his position if there's interference. Winterkorn isn't alone in his agitation, as Der Spigel reports Audi managers are concerned that Porsche will go a-meddling in Ingolstadt once its stake increases above 50 percent. Though VW, Audi, and Porsche are all cousins of a sort, Audi's product line comes uncomfortably close to Porsches in some cases, which doesn't portend well for the continuation of the status quo. Stay tuned as "Alle Meine Kinder," brought to you by Dr. Ferdinand Porsche, continues.

[Source: Forbes, Photo by MICHAEL KAPPELER/AFP/Getty]

Porsche wants a bigger piece of Volkswagen

Posted Jun 23rd 2006 4:26PM by Erin Mays
Filed under: Euro, Porsche, Volkswagen, Earnings/Financials

Porsche AG is on its way to becoming a blocking minority stakeholder in Volkswagen AG, attempting to raise its stake in the struggling automaker by 3.9 percent of total shares to a total stake of 25.1 percent. The only thing standing in its way at the moment is clearance from the German Cartel Office.

Porsche, which is already the largest single stakeholder in VW, will be able to exert more influence over Volkswagen once the deal is done. As German laws are relaxing on how much of a company an individual stakeholder can own, Porsche's move is being looked at as a way to ensure that Volkswagen doesn't become a takeover victim.

[Source: Forbes, Reuters]

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