User Tag List

Reply
 
LinkBack Thread Tools Search this Thread Display Modes
Old 01-06-2009, 10:16 AM   #1
Mook's Avatar
 
Join Date: May 2007
Location: Elgin
Posts: 161,050
 
Mook's Avatar
 
Join Date: May 2007
Location: Elgin
Posts: 161,050
Casino cash: $205437000
36.00 per day
Default Porsche raises stake in VW to 50%

Quote:
Porsche is continuing to wag the dog by upping its stake in VW to over 50%. The move, which cost Porsche $8.49 billion, adds another 8% to the German automaker's ownership stake. The move to 50% was supposed happen late in 2008, but a short squeeze temporarily skyrocketed VW stock from 210 Euros to over 1,000, delaying the move. Porsche's increase in VW stake also gave the iconic automaker indirect control of Swedish truckmaker Scania. Swedish law requires a mandatory takeover offer, but since Porsche has no interest in truck tech, it will only offer the minimum amount required.

The much smaller Porsche has been deliberate in its bid to own the much larger VW, and its plans don't end at 50%. A Porsche spokesman told Automotive News that, pending market conditions, the company intends to own a 75% stake by the end of 2009. And to think Porsche was once worried that its small size made it vulnerable to be taken over by other companies.
__________________
- TCG Owner & Operator -
Mook is offline   Reply With Quote
Old 01-06-2009, 10:37 AM   #2
Mr.Tan's Avatar  
Join Date: Dec 2008
Location: Bolingbrook
Posts: 57
 
Mr.Tan's Avatar
 
Join Date: Dec 2008
Location: Bolingbrook
Posts: 57
Casino cash: $4613069
0.01 per day
Default

I always thought it was the other way around. thought it was vw owned part of Porsche
Mr.Tan is offline   Reply With Quote
Old 01-06-2009, 10:37 AM   #3
Mook's Avatar
 
Join Date: May 2007
Location: Elgin
Posts: 161,050
 
Mook's Avatar
 
Join Date: May 2007
Location: Elgin
Posts: 161,050
Casino cash: $205437000
36.00 per day
Default

neg...porsche has been buying up more and more of vw
Mook is offline   Reply With Quote
Old 01-06-2009, 11:06 AM   #4
Freddy's Avatar  
Join Date: Jan 2008
Location: Chicago
Posts: 774
 
Freddy's Avatar
 
Join Date: Jan 2008
Location: Chicago
Posts: 774
Casino cash: $4623700
0.18 per day
Default

Quote:
Originally Posted by Mook View Post
neg...porsche has been buying up more and more of vw
Why?
Freddy is offline   Reply With Quote
Old 01-06-2009, 11:08 AM   #5
Mook's Avatar
 
Join Date: May 2007
Location: Elgin
Posts: 161,050
 
Mook's Avatar
 
Join Date: May 2007
Location: Elgin
Posts: 161,050
Casino cash: $205437000
36.00 per day
Default

world domination
Mook is offline   Reply With Quote
Old 01-06-2009, 11:33 AM   #6
Freddy's Avatar  
Join Date: Jan 2008
Location: Chicago
Posts: 774
 
Freddy's Avatar
 
Join Date: Jan 2008
Location: Chicago
Posts: 774
Casino cash: $4623700
0.18 per day
Default

Quote:
Originally Posted by Mook View Post
world domination
Oh.
Freddy is offline   Reply With Quote
Old 01-06-2009, 12:53 PM   #7
Mr Baytchos's Avatar  
Join Date: Jul 2007
Location: Hampshire, IL
Posts: 6,428
 
Mr Baytchos's Avatar
 
Join Date: Jul 2007
Location: Hampshire, IL
Posts: 6,428
Casino cash: $19303800
1.45 per day
Default

Gonna be a huge automotive group
Mr Baytchos is offline   Reply With Quote
Old 01-06-2009, 01:00 PM   #8
firemandan1700's Avatar
Bite my shiny metal ass
 
Join Date: Apr 2008
Location: LaSalle County
Posts: 8,639
Bite my shiny metal ass
 
firemandan1700's Avatar
 
Join Date: Apr 2008
Location: LaSalle County
Posts: 8,639
Casino cash: $2141316
2.08 per day
Default

vwpoweredbyporscheflat6.jpg
__________________
2015 Ford F-150
2004 C5 Corvette
1966 Chevelle - Under Construction

firemandan1700 is offline   Reply With Quote
Old 01-06-2009, 02:09 PM   #9
Mr Baytchos's Avatar  
Join Date: Jul 2007
Location: Hampshire, IL
Posts: 6,428
 
Mr Baytchos's Avatar
 
Join Date: Jul 2007
Location: Hampshire, IL
Posts: 6,428
Casino cash: $19303800
1.45 per day
Default

Quote:
Originally Posted by firemandan1700 View Post
vwpoweredbyporscheflat6.jpg
Mr Baytchos is offline   Reply With Quote
Old 01-06-2009, 07:24 PM   #10
Poopshinanigans's Avatar
I'm a middle of the titties voter.
 
Join Date: Nov 2007
Posts: 5,948
I'm a middle of the titties voter.
 
Poopshinanigans's Avatar
 
Join Date: Nov 2007
Posts: 5,948
Casino cash: $4380600
1.38 per day
Default

Porsche powered by a vw van motor? Oh wait...
Poopshinanigans is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



All times are GMT -5. The time now is 07:37 AM.


Powered by vBulletin® Version 3.8.1
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
SEO by vBSEO 3.6.0
User Alert System provided by Advanced User Tagging v3.0.6 (Lite) - vBulletin Mods & Addons Copyright © 2019 DragonByte Technologies Ltd.
no new posts