Porsche plans to own 75% of the shares in Volkswagen in 2009 “paving the way to a domination agreement” according to a company statement.
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It currently holds 42.6%.
“The intention to increase the Volkswagen stake to above 50% in November/December 2008 remains unchanged,” Porsche said.
Porsche said it expected the EU commission would soon qualify the new draft of the VW Act – which requires an 80% holding for full control – tabled by the German federal government as not complying with EU law and that a new lawsuit would be filed with the European Court of Justice.
