Porsche Increases Stake in VW

Porsche has increased its stake in Volkswagen ordinary shares to 50.8 per cent. Analysts Morgan Stanley say that, while the timing of such a move was impossible to predict, this is absolutely in line with Porsche’s stated strategy of ultimately moving to 75 per cent of Volkswagen and seeking a domination agreement.

With this move, Porsche also acquires indirect control over Scania through VW’s 68.6 per cent voting stake in the Swedish truck maker. Porsche has made it clear that is has no strategic interest whatsoever in Scania or any interest in buying Scania shares. However, Swedish law requires Porsche to make a mandatory bid for Scania.