BUSINESS BRIEFING / AUTOS
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Times Staff and Wire Services
Porsche bought additional shares in Volkswagen and will boost its stake in Europe’s biggest carmaker to more than 50%, attaining indirect control over Swedish firm Scania.
Porsche said it would be required by Swedish law to launch a mandatory offer for the truck manufacturer.
Porsche, based in Stuttgart, Germany, said it doesn’t have a strategic interest in Scania and is not interested in acquiring Scania shares.
