Saturday, July 08, 2006

Porsche Given Green Light to Increase Volkswagen Stake

Text from AFX News via Forbes.
BONN, Germany (AFX) - The German Cartel Office said it has cleared Porsche AG's increasing its stake in Volkswagen AG to 25.1 pct from 19 pct.

Cartel Office President Ulf Boege said he does not oppose the tie-up between the two companies because the overlaps are only in areas of sports cars and SUV vehicles.

In these areas, the office said, the two will not have any dominant market position and their positions will not be boosted at all.

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