Getting your player ready...
FRANKFURT — Volkswagen AG’s supervisory board on Thursday approved absorbing Porsche into VW by the end of 2011, with an initial stake to be acquired this year for $4.72 billion, Wolfsburg-based VW said in a statement.
Under the agreement, the merger is to be completed in the next two years, and “Volks wagen’s solid financial base and Porsche’s independence will be preserved,” VW said.
