8 Votes

Boost it!

Porsche Moves Again And Takes Over Nearly 75% Of Volkswagen Shares

Agent009 submitted on 10/27/2008 Official Bell & Ross Timestamp: 12:13:51 PM

7 user comments | Category: New Cars | Source: | SOURCE: online.wsj.com

Porsche Automobil Holding SE on Sunday said it had a near-75% stake in Volkswagen AG, a much larger stake than the market expected, and said it wanted to tighten its grip on Volkswagen with a so-called domination agreement that would give it access to Volkswagen's cash flows.



Porsche announced it had control of 31.5% of Volkswagen through cash-settled options in addition to the 42.6% of shares it currently holds, leaving it just 0.9% short of the 75% level needed to log Volkswagen's revenues and assets in its own books.




Read Article

Porsche Moves Again And Takes Over Nearly 75% Of Volkswagen Shares

About the Author

Agent009

"If everything seems under control, you're just not going fast enough."

— Agent009 (View Profile)


User Comments

B7FAN

nice move porsche maybe now VW will have a prosche variant!!!!!

— B7FAN (View Profile)

Posted on 10/27/2008 12:34:19 PM | reply to this comment | Votes: 1   

uall

Damn...i was thinking of buying Vdub shares yesterday...They went up ~150% this day.

— uall (View Profile)

Posted on 10/27/2008 1:46:22 PM | reply to this comment | Votes: 3   

ThierryHenry14

So according to this (to all the fanboys **AMAZINBIMMER**) if Audi = VW, because VW owns Audi, then Audi = VW = Porsche, because Porsche owns VW.

Wow, that makes me even a prouder owner of a Porsche A4...

— ThierryHenry14 (View Profile)

Posted on 10/27/2008 5:19:57 PM | reply to this comment | Votes: 4   

goojman

Maybe Porsche can help VW improve their shit reliability.

— goojman (View Profile)

Posted on 10/27/2008 8:09:23 PM | reply to this comment | Votes: -2   

S4cabriofoxone

Wow, I can't wait to see what happens out of this. Hopefully it's something a bit more exciting than the Cayenne/Touareg/Q7.

— S4cabriofoxone (View Profile)

Posted on 10/27/2008 9:32:01 PM | reply to this comment | Votes: 0   

woood

Definitely more exciting and IMO, Porsche is only getting back what was theirs in the first place.

— woood (View Profile)

Posted on 10/28/2008 12:30:14 AM | reply to this comment | Votes: 1   

S4cabriofoxone

Well, Porsche never actually owned VW... it was more that Porsche was the offspring of VW. Which makes this an ironic twist. Interestingly enough Porsche will become the most formidable sports car maker in the world, being the head of its own brand, Lamborghini, Bugatti and Bentley.

— S4cabriofoxone (View Profile)

Posted on 10/28/2008 6:25:05 PM | | Votes: 2   

Add your Comments

Images hosted in your AgentSpace can now be posted in the comments section using the following syntax (case matters): [img]IMAGE URL[/img]
Example: [img]http://agent001.myautospies.com/images/sample.jpg[/img]