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Porsche says bought small VW stake off bourse

Tue Oct 7, 2008 9:51am EDT

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STUTTGART, Germany, Oct 7 (Reuters) - Porsche (PSHG_p.DE) bought a small stake in Volkswagen AG (VOWG.DE) in an off-bourse transaction on Tuesday in which it paid far less than peak prices during the session, a Porsche spokesman said.

Porsche has already said it planned to increase its 35 percent VW stake to a majority by next month. VW shares soared nearly 55 percent at one stage on Tuesday to touch a high of 452 euros and were up 14 percent at 333.33 euros by 1347 GMT. (Reporting by Hendrik Sackmann) (michael.shields@thomsonreuters.com, Reuters Messaging: michael.shields.reuters.com@reuters.net; +49 69 7565 1266))



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