Porsche poised to take total control of VW

By From Financial Times| Feb 15 2007
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Porsche is set to take total control of fellow German carmaker Volkswagen after the biggest opponent of Porsche's ambitions at VW threw in the towel and European lawmakers called for an end to a law protecting VW from takeover.

Lower Saxony, VW's second-largest shareholder after Porsche, will no longer stop the sports carmaker taking both the chairmanship and a third seat on VW's supervisory board, its state premier has told colleagues and fellow directors.

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