Europe's biggest automaker Volkswagen is to wrap up its takeover of German luxury sports car group Porsche two years earlier than planned in order to unlock hitherto untapped economies of scale.
In a statement issued late Wednesday, the two companies -- which have been seeking to merge since 2009 -- said they had found a way to integrate their two businesses "some two years earlier than would have been economically feasible" under their previous plans.
The news sent VW shares jumping more than four percent in early trade Thursday, where they were the biggest gainers on the blue-chip DAX 30 share index.
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