Family funds detail holdings of Porsche shares

FRANKFURT (Reuters) -- Austrian-based investment vehicles owned by the Porsche and Piech families have given German automaker Porsche details of the stakes through which they hold 100 percent of votes in the company.

In an advertisement published today in the Boersen-Zeitung newspaper, Porsche said the foundation Familie Porsche Privatstiftung and Familie Porsche Holding GmbH held all of the voting rights in Porsche as of Nov. 13.

A subsidiary held a voting stake of 24.44 percent, while the rest was held via third parties linked to a subsidiary, the notice said.

Porsche officials were not available to comment on the advertisement.

A company spokesman had said after the latest internal reshuffle of shares announced in November that the change was a family matter that had no impact on the company's capital structure.

All shares traded on the stock exchange are preferred shares that carry no voting rights.

Porsche, the largest shareholder in Volkswagen with a 27.4 percent stake, has proposed creating authorized capital at its annual meeting next month that would raise its share capital by half.

It has denied market speculation that this could be a prelude to making a full takeover bid for Volkswagen, whose chairman is Ferdinand Piech, a member of the extended Porsche family.

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