So far Lower Saxony has preserved its strategic veto by using Volkswagen bylaws allowing them to veto a foreign takeover with only a 20 percent hold in shares. Normally, they would require at least 25 percent. Automotive Business Review reports that the automaker has protested the bylaws to German courts. A ruling is expected to be handed down on June 18th by a European competition regulator.
Porsche has long aimed to gather both companies under one umbrella, but has been repeatedly hindered by the necessity to acquire an 80 percent vote from its shareholders.