German sports car manufacturer ups its VW Group stake to over 30 per cent
26 March 2007

Sports car specialist Porsche has exercised an option to increase its shareholding in German volume car-maker Volkswagen to 30.9 per cent. The move comes after the European Court of Justice ruled to scrap a law preventing any one company from being able to wield more than a fifth of the voting rights on the VW Group's supervisory board. Porsche now owns almost a third of VW, and as a result, Porsche co-owner Ferdinand Piech, already chairman on the VW supervisory board, takes on a greater interest in the group. More importantly for Piech, between Porsche and 20.8 per cent shareholder the state of Lower Saxony, more than half of Volkswagen will remain in German hands.Already the largest individual shareholder in VW, increasing its stake beyond 30 per cent means that Porsche is required by German law to lodge a bid for the entire company; it should do so this week, but only as a token gesture. Over the weekend, Porsche advised that it would be offering to buy the remaining 69.1 per cent of the VW Group just over €100 per share; on Friday afternoon, they were valued at €117. That, financial experts say, is all the proof you need of that fact that Porsche isn't interested in taking over VW entirely.

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • Volkswagen Golf MHEV
    First Drive
    23 November 2017
    VW's 48V mild hybrid technology is still a few years away from production, but we’ve sampled a prototype Golf fitted with it and are suitably impressed
  • Jeep Compass
    First Drive
    23 November 2017
    Jeep enters the competitive compact SUV market with its new Compass, blending ruggedness with contemporary styling and tech
  • BMW 1 Series Saloon
    We had a short drive in a China-only front-wheel-drive BMW 1 Series
    First Drive
    23 November 2017
    A brief drive in a China-only front-wheel-drive model shows the future is bright for the 1 Series when it makes the switch from RWD next year
  • BMW 5 Series
    First Drive
    23 November 2017
    The BMW 5 Series is top of the mid-exec pack, but is there still room for a diesel saloon in everyday family life?
  • Toyota Prius PHEV
    First Drive
    23 November 2017
    Does running a plug-in hybrid really make sense as a 500-mile-a-week driver? Six months with a Toyota Prius Plug-in should give a conclusive answer