UPDATE 1-Porsche rejects claims from VW workers-magazine
(Adds reaction from VW workers council)
FRANKFURT, Oct 13 (Reuters) - German sportscar maker Porsche (PSHG_p.DE), the biggest shareholder in larger peer Volkswagen (VOWG.DE), rejected claims it is violating rights of Volkswagen workers, Porsche's chief executive told German magazine Focus.
Porsche Automobil Holding SE gives Volkswagen workers enough say in its matters, Porsche Chief Executive Officer Wendelin Wiedeking said in an interview, the weekly magazine said in an article released on Saturday.
The holding company is the vehicle for the Porsche and Piech families to bundle their stakes in Porsche with Porsche's 31 percent voting stake in Volkswagen AG (VOWG.DE).
A spokesman for Volkswagen's workers council reiterated on Saturday that workers councils in all of Volkswagen's factories agreed that Porsche fails to give VW workers enough of a say.
Participation of Volkswagen workers at the holding company is crucial as Porsche will take decisive decisions at the holding company, he said.
Labour leaders at Volkswagen have said Porsche is leaving them at a disadvantage should Porsche increase its stake in Volkswagen to a majority.
They have sought a preliminary injunction blocking the formation of the new holding company until the dispute is settled. A hearing is scheduled for Oct. 24.
Workers rights under German law include just under half the seats on the supervisory boards of publicly traded companies.
Porsche has no plans to expand its stake in Volkswagen, Wiedeking told Focus in the pre-released article from the magazine's Monday edition.
((Reporting by Peter Dinkloh; Frankfurt Newsroom +4969 7565 1345; Editing by Gerrard Raven; Reuters Messaging peter.dinkloh.reuters.com@reuters.net)) Keywords: PORSCHE LABOUR/
(C) Reuters 2007. All rights reserved. Republication or redistribution ofReuters content, including by caching, framing or similar means, is expresslyprohibited without the prior written consent of Reuters. Reuters and the Reuterssphere logo are registered trademarks and trademarks of the Reuters group ofcompanies around the world.nL13595623
