Porsche Seeks Larger Stake in VW

Washington DC June 24, 2006; The AIADA newsletter reported that Porsche is seeking German antitrust authority clearance for its plan to raise its stake Volkswagen to 25.1 percent, according to Reuters.

The automaker said it was seeking approval because the move would give it a blocking minority in VW, in which it became the largest shareholder last year. Porsche signaled its intent to raise its VW stake last year by acquiring an option to buy additional shares.