The extraordinary shareholders’ meeting of German carmaker Volkswagen scheduled for Thursday seems set to turn into a battlefield between majority shareholders and institutional investors, a local newspaper said.

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Some 78% of VW’s voting rights are now in possession of the Porsche family, the state of Lower Saxony and the Gulf state of Qatar, with 22.45% floating freely.


The state of Lower Saxony that is home to VW has a stake of around 20%, giving it two seats on the supervisory board and a right veto any important decisions. VW has long been criticised for the immense influence the state has within the company.


The shareholders are also concerned about the lack of transparency regarding the takeover of luxury carmaker Porsche, Financial Times Deutschland added.

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