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January 23, 2009
BBC NEWS | Business | Fast bucks: how Porsche made billions
In October 2008, Porsche's takeover moves triggered an unprecedented stock market squeeze when it suddenly revealed it owned or had positions on more than 74% of Volkswagen shares.
The value of Volkswagen stock rocketed to more than 1,000 euros, briefly making it the most valuable company in the world.
Hedge funds, who had gambled that the value of Volkswagen shares would fall are said to have lost between 10bn and 40bn euros.
BBC NEWS | Business | Fast bucks: how Porsche made billions
Posted by thdyck on January 23, 2009
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