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Porsche unlikely to raise VW stake this year: source

STUTTGART, Germany
Tue Oct 23, 2007 7:20am EDT

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A worker wipes the logo on the bonnet of a Cayman of German car manufacturer Porsche during preparations for the international car show IAA in Frankfurt September 10, 2007. REUTERS/Alex Grimm (GERMANY)

STUTTGART, Germany (Reuters) - German sports car maker Porsche (PSHG_p.DE) is unlikely to increase its 31 percent stake in Volkswagen (VOWG.DE) this year, a source familiar with the matter said on Tuesday.

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The source was speaking after the European Court of Justice struck down a German law limiting any individual's voting rights in Volkswagen to 20 percent.

A Porsche spokesman said earlier it had not decided yet how to proceed and that its supervisory board would have to review the issue.
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