Porsche likely to take majority stake in VW
An Automotive News report says that the way has been paved for Porsche to take a majority stake in Germany's largest automaker, Volkswagen. A court ruling determined that the so-called VW law, which dates back nearly 50 years, is illegal. Under the original law, over 80 percent of shareholders votes are required to pass an important decision, as opposed to the usual 50 percent. In effect, a small shareholder with 20 percent of the stock could block major decisions that 80 percent of shareholders favored.
