Sports car firm's low offer means it maintains the status quo
5 June 2007

As intended, Porsche has failed to entirely take over Volkswagen.The sports car maker was legally obliged to make an offer for VW after its stake in the company exceeded 30 per cent in March 2007.Porsche deliberately made a low offer for VW shares, and as a result gained less than a thousandth of the company's capital. Porsche's voting stock now stands at 30.97 per cent of VW, meaning that it still has majority control of the Wolfsburg-based car maker.

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