VW target of lawsuit by European Union

In a mildly complicated story on Reuters, we learn that the European Union is suing Germany, the country, over a 44-year-old law that basically prevents foreign investment into automaker Volkswagen. Let me quote the story here just to state things plainly, "[an] EU executive has repeatedly asked Germany to scrap a 1960 law that gives VW's home state of Lower Saxony effective control of the firm through a minority stake saying it violates European laws on the freedom of investment." That means no matter how many shares of the company someone, say Ford, was willing to buy, the state would be able to block all takeover votes. It seems like an archaic law to me and with the company floundering the news actually sent stock prices up. Maybe VW should join the petition to get the law overturned too.

Thanks to Nez5000 for the tip