Blog: Porsche and VW
Dave Leggett | 26 March 2007
It looks like clever manoeuvring by Porsche to keep Volkswagen under its control but to achieve that without a full takeover, taking advantage of the share price rise to go over the 30% threshold and make a low offer that won't be accepted by other shareholders. Porsche therefore stays 'independent' with VW well positioned to take it over fully should it want to or ride any change to the State of Lower Saxony's stake.
I spent some time talking to someone at CNN about all of this earlier and they wanted me in the London studio. Unfortunately, logistics meant that I couldn't get there in time for the programme slot. Just as well, actually. The old legs ache a bit today after completing a half marathon yesterday (time: just under 2 hours and 19 minutes, slightly better than I expected). Thanks again to all who sponsored me (I was running in aid of Cancer Research UK).
Porsche announced on Saturday (24 March), that it has decided to increase its stake in Volkswagen from 27.3 to 31%....
I'm starting to get a small idea of the scale of things here in China, but really, I'm only scratching the surface of this vast country....