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Porsche struggles to gain control of VW

by Nick Aziz

In July, news broke that antitrust authorities gave the go-ahead for Porsche to expand its stake in Volkswagen to 25.1 percent, giving it control of the company. Now, the International Herald Tribune is reporting that the German state of Lower Saxony -- another major shareholder in VW -- is trying to increase its stake in Volkswagen to 25.1 percent from 20.75 percent -- a step that would give it the blocking minority that Porsche also seeks. Porsche has said it wishes to prevent a hostile takeover of VW by another automaker, but it also stands to benefit from a tightened relationship for such projects as the Porsche Cayenne and Panamera.