Date:07/01/2009 URL: http://www.thehindu.com/2009/01/07/stories/2009010754311800.htm

Business

Porsche takes over Volkswagen

FRANKFURT: The German luxury sports car maker Porsche has taken over Volkswagen by purchasing more than 50 per cent of its shares. Porsche said in a statement that by buying new VW shares, it “will thus increase its participation to 50.76 per cent “of the group’s capital, compared with 42 per cent before.