Volkswagen Moves To Take 49.9% Stake In Porsche

Volkswagen AG today said it would pay 3.9 billion euros ($5.8 billion) to take a bigger than planned 49.9 percent stake in Porsche AG as a first step to a full merger with Porsche Automobil Holding SE by 2011.

Europe's largest auto maker said it was making better than expected progress on cooperation projects between the two automakers.

VW supplies components for about a third of all Porsche cars, including bodies of the four-door Cayenne and Panamera models and has sought to expand this cooperation.


2010 Porsche 911 Turbo Photo Gallery