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Posted AT 8:11 AM EST on 16/09/08

Volkswagen becomes Porsche unit

The Associated Press

BERLIN — Porsche raised its stake in fellow German automaker Volkswagen on Tuesday to more than 35 per cent — a move that it said gives effective control over Europe's biggest car maker. Porsche Automobil Holding SE previously held a stake of a little more than 30 per cent and has said it plans to raise that to a majority holding. It said that it acquired an additional 14.4 million ordinary VW shares, or 4.

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