VW is set to take over Porsche


It appears that the drawn-out struggle over the ownership of Porsche may be coming to an end. According to Saturday's edition of Der Spiegel, Volkswagen (VW) plans to purchase all of Porsche, which is stumbling economically thanks to its failed attempt to take control of VW.

Germany's leading weekly magazine reported that VW will completely take over the sports carmaker in two transactions. These transactions, when completed, will lead to Porsche becoming the 10th brand under the VW umbrella and making it the world's largest automaker. Initially, VW was going to purchase 49.9 percent of Porsche, but the report states that a second purchase of shares will result in a complete acquisition.