Porsche denies report in WirtschaftswocheWiedeking: "We are in positive talks with VW and the State of Lower Saxony“
Stuttgart. Dr. Ing. h.c. F. Porsche AG, Stuttgart, denies a report by Wirtschaftswoche online that appeared this afternoon, claiming that Porsche intends to increase its holding in Volkswagen AG to 24.9%. Wirtschaftswoche online alleges that this was announced by Porsche CEO, Dr. Wendelin Wiedeking, in an internal meeting with Porsche managers at the Tokyo Motor Show.
The Porsche CEO did not make these or other alleged statements quoted by Wirtschaftswoche online to either journalists or Por-sche managers. The position of Porsche AG remains that a share of 18.53% of ordinary VW shares has been acquired to date. Furthermore, the Company has hedged against a further rise in the price of VW ordinary shares and can acquire a further 3.4% on the market.
Dr. Wendelin Wiedeking: "We are currently in positive talks that will find a common denominator for the interests of Porsche AG, Volkswagen AG and the State of Lower Saxony.“
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20.10.2005