Lower Saxony will hold a stake of up to 22 percent in a combined Volkswagen-Porsche group (VOWG.DE: Quote, Profile, Research) (PSHG_p.DE: Quote, Profile, Research), giving it a blocking minority stake in Europe's largest auto maker, state premier Christian Wulff said on Friday.
Lower Saxony, where Volkswagen is headquartered, currently holds a stake of just over 20 percent in Volkswagen's voting shares ahead of a multi-stage merger between the two auto makers.
Wulff said the Porsche's current owners, the Piech and Porsche families, are set to hold just over 30 percent in the combined group.
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