Porsche to Boost Holding in Volkswagen

Porsche SE bought additional shares in Volkswagen AG and will boost its stake in Europe’s biggest carmaker to more than 50 percent, attaining indirect control over Sweden-based Scania AB. Hence, Porsche will be required by Swedish law to launch a mandatory offer for the truck manufacturer, Stuttgart, Germany- based Porsche said in a statement today.

Porsche “is not bound by pre-acquisition prices and is only obliged to offer the minimum price prescribed by law," Porsche said in the statement.

Porsche, the maker of the 911 sports car, said it doesn’t have a strategic interest in Scania and is not interested in acquiring Scania shares. Bloomberg