Court ruling paves way for Porsche to buy more of Volkswagen
23 October 2007

Porsche will now legally be able to take a majority holding in Volkswagen, after the European Court of Justice today (23 October) overturned a 47-year-old German law protecting VW from takeovers.According to the court's ruling, the law – commonly known as the VW law – restricts the free movement of capital and the freedom of establishment.The decision clears a path for Porsche to take a majority stake in Volkswagen, in which it already has a 31 per cent holding. The law prevented any individual from exercising a voting right of more than 20 per cent. The German government had fought against the EU's action, claiming that VW was a special case. The state of Lower Saxony, where VW is based, owns a 20 per cent stake in the company.Porsche is expected to buy more of VW, though not in the immediate future.

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • Dallara Stradale
    The Stradale is the first road-legel car from Italian motorsport constructor Dallara
    First Drive
    16 March 2018
    The motorsport constructor's first road car is inspired by Lotus minimalism. Does it thrill on road and track?
  • Hyundai i30 N
    Standard spec is good so paint colour is our car’s only option
    First Drive
    16 March 2018
    What’s Hyundai’s first hot hatch and N-brand debutant really like? Let’s find out
  • Porsche Boxster GTS
    This is the new GTS version of the Porsche Boxster
    First Drive
    15 March 2018
    The 718-generation Boxster is our favourite roadster of the moment – so is this new GTS variant worth the extra outlay?
  • BMW 5 Series
    First Drive
    15 March 2018
    The BMW 5 Series is top of the mid-exec pack, but is there still room for a diesel saloon in everyday family life?
  • Audi A7 front
    First Drive
    14 March 2018
    The new Audi A7 Sportback looks the part, but how does the new Mercedes-Benz CLS rival cope on UK roads? We find out