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Porsche SE Buys More Shares of "Undervalued" Volkswagen
Porsche Automobil Holding SE has spent €400 million ($454 million) to raise its voting stake in Volkswagen AG to 53% from 52%, describing the carmaker as undervalued.
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Porsche Automobil Holding SE has spent €400 million ($454 million) to raise its voting stake in Volkswagen AG to 53% from 52%, describing the carmaker as undervalued.
Porsche SE says it also will continue to add VW shares. Its most recent purchases were made in recent months on the open market and do not change the holdings of other major VW investors.
The holding company predicts its profit in 2019 will total between €3.4 billion and €4.4 billion ($3.9 billion-$5 billion) compared with €3.5 billion in 2018.
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