Porsche to Boost VW Stake

Porsche plans to boost its stake in Volkswagen in order to prevent the potential takeover of its fellow German automaker.

In a statement posted on its Web site Saturday, Porsche said it would increase its VW stake to 31% from 27.3%.

By breaching the 30% ownership threshold, Porsche is required under German law to make an offer for all the VW shares it doesn't own, and it announced it would make such an offer.

But spokesman Christian Dau said Porsche wasn't "seeking a majority takeover of Volkwagen," according to The Wall Street Journal, and he added that Porsche didn't expect many shareholders to tender their stock. ...