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Porsche's Plan to Purchase Controlling Interest of Volkswagen Approved!

What may be the quintessential sports car maker, Porsche, announced plans to seek a controlling interest in the Wolfsburg-based automotive giant Volkswagen group last month, submitting a proposal to German anti-trust authorities to gain clearance to purchase the remaining stock required. Already owning 21.2 percent of VW (Porsche owned 18.5 percent earlier this year but it has purchased most of its 3.4 percent available options in recent months), Porsche and the Peoples Car have had a longstanding and successful relationship, dating all the way back to Ferdinand Porsches design of the Beetle.