Porsche AG's CEO said Wednesday in an open letter that his business was no hedge-fund "locust" in an attempt to allay fears about what his company's likely takeover of fellow German automaker Volkswagen would mean.
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Porsche Supervisory Board approves increase of stake in Volkswagen - Company to become a European stock corporation.
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Luxury sports car maker Porsche AG said Friday net profit soared in the fiscal first half, boosted primarily by a gain from its stake in Volkswagen.
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