The Padre
Posts: 4,558 
Location: Ontario
Location: Ontario
March 24th, 2007, 07:20 AM
BERLIN (AFP) - German sports car builder Porsche said Saturday it wants to take control of the giant Volkswagen group, in which it already holds a 27.3 percent stake.
A statement issued after a special board meeting said that Porsche would initially raise its stake to up to 31 percent, which under German law would oblige it to make a full takeover bid.
Porsche, which said it will exercise an option to purchase up to a further 3.7 percent of VW shares, had previously denied growing rumours of a takeover move.
Shares in Volkswagen soared in afternoon trading in Frankfurt on Friday after rumours that Porsche, its biggest shareholder, was preparing a public stock offering.
VW shares were up 5.36 percent to 116.74 euros on the Dax index.
A trader said the market was speculating on Porsche making an offer on Monday with shares at between 117 and 118 euros.
Porsche had earlier expressed its intention of upping its holding to 29.9 percent, just below the limit of 30 percent that would trigger a takeover bid.
But the luxury carmaker said several times it had no intention of exceeding a 29.9-percent holding.
Copyright © 2007 Agence France Presse
BERLIN (AFP) - German sports car builder Porsche said Saturday it wants to take control of the giant Volkswagen group, in which it already holds a 27.3 percent stake.
A statement issued after a special board meeting said that Porsche would initially raise its stake to up to 31 percent, which under German law would oblige it to make a full takeover bid.
Porsche, which said it will exercise an option to purchase up to a further 3.7 percent of VW shares, had previously denied growing rumours of a takeover move.
Shares in Volkswagen soared in afternoon trading in Frankfurt on Friday after rumours that Porsche, its biggest shareholder, was preparing a public stock offering.
VW shares were up 5.36 percent to 116.74 euros on the Dax index.
A trader said the market was speculating on Porsche making an offer on Monday with shares at between 117 and 118 euros.
Porsche had earlier expressed its intention of upping its holding to 29.9 percent, just below the limit of 30 percent that would trigger a takeover bid.
But the luxury carmaker said several times it had no intention of exceeding a 29.9-percent holding.
Copyright © 2007 Agence France Presse
Time Out
Posts: 4,276
Videos: 1
Location: Richmond, Virginia
Videos: 1
Location: Richmond, Virginia
March 25th, 2007, 01:21 AM
Yeah but will it make it affordable for the little guy? LOL
Yeah but will it make it affordable for the little guy? LOL
Time Out
Posts: 4,276
Videos: 1
Location: Richmond, Virginia
Videos: 1
Location: Richmond, Virginia
March 25th, 2007, 11:23 PM
said in anger........retracted
said in anger........retracted
*hugs*
Time Out
Posts: 1,651
March 25th, 2007, 11:35 PM
OMG, after doing that, I took to the intuition to check my rep points:
Porsche says it wants... March 25th, 2007 04:50 AM turn off the tv,,,,go outside
somebody is up to something... and what the heck! this is an online forum, the person who gave me that rep is inside on a computer writing that comment for me!
OMG, after doing that, I took to the intuition to check my rep points:
Porsche says it wants... March 25th, 2007 04:50 AM turn off the tv,,,,go outsidesomebody is up to something... and what the heck! this is an online forum, the person who gave me that rep is inside on a computer writing that comment for me!
Time Out
Posts: 4,276
Videos: 1
Location: Richmond, Virginia
Videos: 1
Location: Richmond, Virginia
March 25th, 2007, 11:38 PM
Let it drop.......I'll light a candle for the person......their spirit needs it.
Let it drop.......I'll light a candle for the person......their spirit needs it.
Time Out
Posts: 4,276
Videos: 1
Location: Richmond, Virginia
Videos: 1
Location: Richmond, Virginia
March 25th, 2007, 11:42 PM
Thank You
Bless
Quoting westmanguy
ok, I'll drop it, but I got this feeling that the rep you and me got is from the same person.
But I, unlike you, wouldn't have a clue who.
But lets not play the blame game, its not worth it! lol
But I, unlike you, wouldn't have a clue who.
But lets not play the blame game, its not worth it! lol
Thank You
Bless 
