Porsche offices raided by German prosecutors

August 20, 2009 By News Leave a Comment

The offices of German luxury carmaker Porsche have been raided by federal prosecutors probing the alleged market manipulation of Volkswagen shares.

The investigation centres on former chief executive Wendelin Wiedeking and finance chief Holger Haerter, both of whom resigned last month.


	The carmaker had built up a stake of 51% in VW in an attempt to launch a takeover of Europe's biggest carmaker.
	Porsche denied the accusations and said it would co-operate with prosecutors.
	The two carmakers have subsequently agreed to a merger, ending months of bitter feuding, which will take place in 2011. 
	Source: BBC News
	





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