Friday, August 14, 2009

VW to buy 42% in Porsche


Volkswagen AG agreed to buy a 42 percent stake in the sports car unit of debt-ridden Porsche SE, another step toward combining the two German carmakers into a European automotive giant. VW will pay up to 3.3 billion euros ($4.7 billion) this year for the initial stake in the unit.

DATED: 14.08.09

FEED: ANE





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