The European Court of Justice overturned a 47-year-old German law that shielded Volkswagen AG from a takeover. The law has effectively prevented Porsche AG, VW’s largest shareholder, from taking control of the automaker. “At last, an antique of European financial legislation is confined as a business-school case study,” said Cantor Fitzgerald strategist Stephen Pope. (Bloomberg)
The Bottom Line
October 23, 2007
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