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Porsche retakes control of VW
On Monday Porsche received the go-ahead from its supervisory board to increase its stake in VW to more than 50 per cent


But...Porsche sought on Tuesday to allay fears it would attempt to force a merger with Volkswagen, a day after setting the stage for obtaining a majority stake in the fellow German automaker.

In a statement printed in German newspapers and signed by Porsche Chief Executive Wendelin Wiedeking and Financial Officer Holger Haerter, the two executives said "there will be no merger of the two companies."

"Volkswagen and Porsche will bundle their strengths in clearly defined cooperative projects and implement them to enhance profitability on both sides," they wrote.
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