Porsche to Become Main VW Shareholder

Ho! So this is how Porsche spends its Cayenne money, by buying 20 percent of its partner in the cash-generating SUV project? Well, yes, and it's yet another reason why Porsche's management team, lead by President and CEO, Dr. Wendelin Wiedeking (pictured), gets Jalopnik's corporate Balls Out award, automotive category for 2005. While half the world was speculating that General Motors antagonist Kirk Kerkorian had taken on Germany's politico-capitalist quagmire, Porsche was securing its share of the Touareg/Cayenne equation and its future in the hybrid game from possible hostile takeover forces. Now, as the largest shareholder next to the country of Lower Saxony (18.2 percent) and VW (13.1 percent), likely in perpetuity, we can only hope Porsche didn't just chain itself to the Titanic. [Update: VW has no comment on the alleged transaction. New: confirmation from Porsche.]

Volkswagen: Porsche to become main shareholder? [The German Car Blog]

Related:
Is Kerkorian Eyeing Volkswagen? [internal]