Volkswagen to Buy Porsche: Reports

SPIEGEL has obtained information that Volkswagen (VOWG.DE) is planning a complete takeover of beleaguered sports carmaker Porsche in a series of two transactions. The company is planning the imminent purchase of 50 percent of Porsche (PSHG_p.DE) shares and will purchase the remaining shares in the Stuttgart, Germany-based automobile manufacturer in a second step. Once completed, Porsche will become the 10th brand in the stable of Volkswagen, Europe's largest carmaker.

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