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Porsche seeks capital interest in Volkswagen

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Porsche seeks capital interest in Volkswagen

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The German car maker Porsche signaled today that it wants to acquire around 20 percent of its sister firm Volkswagen, the leading European car manufacturer.

Bosses at Porsche said that the potential deal, worth around three billion euros, would help Volkswagen to avoid a hostile takeover by outside investors. The companies’ parent group Wolfsburg fears Volkswagen could be vulnerable to atakeover if Germany is forced to scrap a law protecting the car maker. The companies have already collaborated on projects including the Cayenne 4×4and a hybrid engine.