Porsche seeks controlling stake in VW

Porsche intends to acquire a further 3.9 percent of Volkswagen, the automaker announced todat. To this end, the company has filed an application to the German Federal Cartel Office to request its approval of the planned increase of its stake. Acquisition of the shares would increase the sports car manufacturer's holding in VW from the present 21.2 per cent to 25.1 per cent of the voting rights, meaning that it would obtain a controlling minority in the Group.