In Germany: In recent months, the German public saw the power struggle between two major shareholders of the largest carmaker in Europe, Volkswagen and Porsche — Land of Lower Saxony. The European Union has withdrawn the controversial Volkswagen law judge, which is designed to protect Volkswagen from any type of acquisition. The state of Lower Saxony has used the law Volkswagen Porsche Control Board to limit the company, despite the fact that it has the largest number of shares in Volkswagen. The Volkswagen Law restricts the voting rights of shareholders to 20% regardless of the number of shares owned Volkswagen.
After all efforts to stop Porsche from taking control of Volkswagen maker of fans and popular Volkswagen owns Audi, Bentley, Seat and Skoda — Prime Minister of Lower Saxony Christian Wulff has finally put the red flag and said he did not Porsche wants to intervene to assume the presidency and the third in control of the board of the company in the coming weeks. This policy decision by the Lower Saxony represents the signal for Porsche to take complete control of the largest carmaker in Europe.
It should be noted that Porsche is slowly increasing its stake in Volkswagen from time shareholder in car in September 2005. And right now, Porsche now owns 27.4% of the shares and will increase after having received the votes of other shareholders of its shares, bringing its total holding to 29.9% of purchase. However, Porsche said it did not continue, that the Volkswagen law is repealed, because, according Wendelin Wiedeking, they just want enough information to participate in the daily operations of the automobile and a seat at the presidency.
View the Volkswagen law to repeal the European Union shows that the law unnecessary and outdated to say that prevents the free movement of capital. If in case a decision is finally about to end the right to more than Ferdinand Piech positionsas a controlling shareholder of Porsche and Volkswagen have a chairman and head of the Council, at the same time keep the room from the third VW to Porsche. There are rumors in the European investment community who say that Wulff is not with Porsche. According to a report from sources inside the line, "Big Bad" Wulff is currently in private meetings with other investors in an attempt to oust Piech as soon as his mandate in the supervisory board of Volkswagen expires in April.
Porsche victory over his rival from the rear of Lower Saxony came at a time when the announcement of Volkswagen's profits in 2006, profits doubled from what they won in 2005. The automaker also announced the sale of vehicles of the Group increased by 9.4% to a solid or 5.7 million paid mainly by Audi, Skoda and Bentley.
