Porsche increases Volkswagen stake

Porsche said it slightly increased its share in fellow German automaker Volkswagen, in which it plans to take a majority before the end of the year.

Porsche Automobil Holding is Volkswagen’s biggest shareholder and said last month that it had increased its stake to just over 35%.

Spokesman Albrecht Bamler said Porsche bought additional Volkswagen shares off-market, “significantly under the current market price.”