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Porsche aims to have VW majority by Nov 26 - paper

Tue Oct 7, 2008 2:44am EDT

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FRANKFURT, Oct 7 (Reuters) - Porsche (PSHG_p.DE) is aiming to increase its 35 percent voting stake in Volkswagen (VOWG.DE) to more than 50 percent by Nov. 26 at the latest, Germany's Sueddeutsche Zeitung paper said, citing unidentified sources.

Porsche was not immediately available for comment.

Porsche, which is scheduled to hold its annual results news conference on Nov. 26, has previously said it wants to increase its stake in Europe's biggest carmaker to an absolute majority.

The state of Lower Saxony holds around 20 percent of the voting rights in VW. (Reporting by Marilyn Gerlach; Editing by Quentin Bryar)



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