Fleet News

Porsche set to take control of VW

German sports carmaker Porsche is expected to move to consolidate its planned control of mass manufacturer Volkswagen Group after the European Court of Justice declared illegal a 20% cap on shareholder voting rights within the company.

The court said this broke EU freedom of movement of capital rules, along with rules allowing a 20% blocking minority over company decisions and the right of the federal and Lower Saxony regional governments to appoint Volkswagen board members.

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