Volkswagen Law faces EU court defeat as Porsche revs engines

Sunday October 21st, 2007 at 8:1010 PM
Posted by: Derek

Sun Oct 21, 12:15 AM ET

FRANKFURT (AFP) – The European Court of Justice is expected to rule on Tuesday against the so-called “Volkswagen Law”, paving the way for Porsche to take control of the continent’s biggest carmaker.

Striking down the 40-year-old law which prevents Volkswagen from being taken over would allow Porsche to raise its 31-percent stake to a majority.

Porsche has made no secret of its desire to expand beyond its traditional luxury sports car market to create a truly global group.

Read the complete article HERE

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American Le Mans Porsche RS SpyderA Porsche RS Spyder during the American Lemans series.

Source:
AFP
by Lenaig Bredoux





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