F&I Management & Training

Porsche is on the verge of taking full control of Volkswagen, in which it already holds a stake of more than 27 per cent. Lower Saxony, the federal state that is Volkswagen’s second largest shareholder with 18.2 per cent, is expected to back down in its opposition to the luxury brand taking over VW. Ferdinand Piech, a controlling shareholder of Porsche, is likely to remain as VW’s chairman. This week the European Court of Justice was told German legislation blocking a foreign takeover of VW contravened EU law.

DATED: 16.02.07

FEED: MT