Is Volkswagen AG -- which hasn't been setting the world on fire -- suddenly the hot property of the auto world?
It was revealed last week that the mystery investor buying VW shares was sports car maker Porsche AG. And a German magazine, citing unnamed sources, floated the notion that DaimlerChrysler also may seek a 20 percent stake in VW.
Two weeks ago, Porsche bought 32.8 million shares in VW, about 10 percent of the company. Porsche says it wants to own 20 percent of VW, which would cost about $3.9 billion at the current stock price.
Why does the maker of luxury sports cars want to be the largest shareholder of the maker of the "people's car"? Porsche said it needs stable ties with the company that supplies content for 30 percent of its sales volume.
On the DaimlerChrysler front, the German magazine Focus reported that VW and DaimlerChrysler have talked about mutual investment, with VW also buying a stake in DaimlerChrysler.
VW shares rose a modest 1.1 percent last week, after soaring 17 percent the previous week when the Porsche stock purchases began. Porsche shares closed the week down 5.0 percent.