Porsche seeks majority stake in Volkswagen

German sports car maker Porsche aims to raise its stake in German car maker Volkswagen (VW) to 51 percent, the German current affairs weekly Der Spiegel reported. A Porsche spokesman said on Saturday that the company's board had made no decision about raising the stake above the current 31 percent.
Citing unidentified stock market sources, the magazine said Porsche was buying options entitling it to increase its VW stake by exercising them. "Traders expect that Porsche will exceed the 50-percent limit at the start of next year," Der Spiegel said.