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Porsche to take majority stake in VW for £7bn

By Ben Whitworth Motor Industry 07 March 2008 11:26 Porsche is about to become the majority shareholder in Volkswagen. The sportscar maker has been given the green light to purchase further stock in VW, taking its share past the 50 percent mark to give it a controlling interest. As soon as various legal checks have been cleared, Porsche plans to purchase a further 20 percent of VW stock – it already owns 31 percent - at an estimated cost of around £7 billion.

PRE-WAR CARS MAY GET MOT TEST EXEMPTION

PRE-WAR vehicles may have their requirement for an annual MoT test removed, it has been suggested. A meeting between Transport Minister Mike Penning and members of the All Party Parliamentary Historic Vehicles Group, led by Lord Montagu of Beaulieu, has resolved to address the issue. The extremely low accident rate for such vehicles, the vast majority of which are kept in pristine condition by avid collectors, means there is little need for a MoT test, the group argued.

Bugatti Galibier 16C revealed

The new four door Bugatti Galabier Update: Set of decent size interior and exterior photos of the Bugatti Galibier added. The Galibier 16C is what Bugatti wants to produce once production of the Veyron ends in 2012. So you’re looking at the likely four-door saloon from Bugatti that will hit the roads in 2013.