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On Wednesday, Porsche won its long-lasting battle to acquire a controlling stake in Volkswagen, the world’s fourth-largest automaker. The last attempt to purchase shares that would bring its total VW ownership to more than 50 percent saw a technical difficulty, but yesterday’s European Comission approval means that plan is now back on track.

“The Commission’s examination of the transaction showed that horizontal overlaps between Volkswagen and Porsche are limited,” the EU statement read. “For all car segments concerned, Porsche will continue to face several strong, effective competitors with significant market shares.”

Still, Porsche has to deal with the German state of Lower Saxony, which, after getting its VW Law struck down, is maintaining a veto power, or blocking minority, in all decisions having to do with VW’s future, despite holding just over 20 percent of the automaker. Porsche is fighting the new law, which is in draft stages, as it intends to take over operations of the ‘People’s’ brand.


http://www.leftlanenews.com/porsche-gets-european-commission-go-ahead-on-vw-purchase.html
 

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Anything to over-run Lower Saxony's voting block, I'm happy about. The stupid "VW law" shouldn't exist and a new draft shouldn't be adopted. Instead, they should let the market decide. Lower Saxony has probably done more to hobble VW's attempt to react to market contition more quickly due to protecting labor in Germany than anything else (keeping projects in Germany rather than other nations at the cost of profitability, etc).

That point aside, I really like the idea of the two houses the Porsches built being "reunited" to a degree. They share a common ancestry, might as well be united. Even thought I know a "50% + stake" isnt a complete take over, it certainly is controlling enough to make VW/Audi more nible in the market.
 

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I hope that Porsche pushes through a Karmann-Ghia/Speedster kind of car. It'd be a lot better than some of the boring designs VeeDub has had of late. The only car to get my heart racing is sadly a Rabbit.
 

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Anything to over-run Lower Saxony's voting block, I'm happy about. The stupid "VW law" shouldn't exist and a new draft shouldn't be adopted. Instead, they should let the market decide.
Yes, the VW law shouldn't exist but ones sees restrictions such as this all over Europe (try acquiring a French compamy!). This is why GM was so naive to believe they could be positioned to take-over FIAT - it would never have been perrmitted to happen with the Agnelli's in charge. GM was suckered-in.
 
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