▲ 69 ▼ Germany's Volkswagen loses €1 billion in single quarter (www.dw.com) submitted 9 months ago by schizoidman@lemmy.zip to c/europe@feddit.org 14 comments fedilink hide all child comments
[–] Multiplexer@discuss.tchncs.de 12 points 9 months ago (1 child) It seems to be even more complicated than what you described, as I just realized: Porsche SE is only owning 31.4% of the Volkswagen AG (which in turn owns 75% of Porsche AG), but has 53.3% of the shareholder voting rights. Financial constructs of huge corporations are strange... permalink fedilink source parent hideshow 2 child comments replies: [–] Asetru@feddit.org 2 points 9 months ago On top of that, lower saxony (where VW resides) has a law that effectively gives the country blocking minority rights, so those 53 percent don't give Porsche the ability to actually control the company. permalink fedilink source parent
[–] Asetru@feddit.org 2 points 9 months ago On top of that, lower saxony (where VW resides) has a law that effectively gives the country blocking minority rights, so those 53 percent don't give Porsche the ability to actually control the company. permalink fedilink source parent