Will Volkswagen change its surname? Can the Piech family"s dream come true

　　Hours after Volkswagen announced its successful acquisition of Scania Truck Company, Porsche"s supervisory board made a decision on March 3rd to increase its stake in Volkswagen to over 50%, thereby fully controlling Volkswagen. If the acquisition is successful, Porsche will become the largest automaker in Europe, and Volkswagen will also usher in a new chapter.

　　Behind this dazzling series of actions lies a huge dream of a family, which is the actual owner and controller of luxury car manufacturer Porsche - the Pierce family.
　　It"s also interesting to say that Porsche and Volkswagen have a long-standing relationship. The first leader of Volkswagen was the founder of Porsche, Ferdinand? Porsche, the first generation Volkswagen Beetle was created by Ferdinand? Porsche"s design and development have laid a solid foundation for Volkswagen"s future glory. And Ferdinand? Porsche"s creation of its own brand foundation is also based on the rewards received by the Volkswagen Beetle. In order to reduce production costs, in the early days of Porsche"s establishment, most of the components were purchased by Volkswagen, and Porsche"s design and development capabilities also facilitated the cooperation between the two companies. The success of Cayenne and Touareg is an example of their collaborative development. Ferdinand, the current chairman of the supervisory board of Volkswagen Group? Pi ë ch is also the founder of Porsche, Ferdinand?
　　As the media has commented, Piaget"s excessive ambition is a drawback, but it is also an advantage. Now Pierce is sitting comfortably as the chairman of the supervisory board of Volkswagen Group, carefully manipulating everything. Volkswagen CEO Wenden, who was promoted by him, is steadily leading Volkswagen forward.
　　In March 2007, Porsche increased its shareholding in Volkswagen from 27.3% to 31%. Porsche stated at the time that "the company is only increasing its stake and has no intention of acquiring it.
　　But this is not Pierre"s true words. For several years, the Pierce family has been working hard to achieve full control of Volkswagen. But the Volkswagen Company Law hindered their progress, but Pierce still had a good idea, which was to take the Volkswagen Company Law to the European Court of Justice and seek help from the EU government.
　　The Volkswagen Company Law was born in 1960 to prevent Volkswagen from being maliciously acquired. This law stipulates that regardless of whether the shareholding exceeds 20%, no shareholder can have more than 20% of the voting rights, and as long as they have 20% of the voting rights, they can decide major decisions of the company.
　　Although Porsche"s shareholding in Volkswagen has already exceeded 20% and become the largest shareholder, even if Porsche issues a takeover offer after holding more than 30%, the Lower Saxony government can veto it with one vote by owning more than 20% of the shares, which clearly violates the EU"s single market capital free flow law.
　　Pierre"s efforts were not in vain. On October 23, 2007, the European Court of Justice in Brussels ruled that the Volkswagen Company Law violated the EU"s principle of fair competition, which many investors were delighted with. The most direct beneficiary of the repeal of this law was Porsche, which already holds 31% of Volkswagen"s shares.
　　On March 3, 2008, Porsche stated that this action first requires approval from regulatory and antitrust authorities, and is expected to take "several months". After the establishment of the new holding company, Volkswagen will continue to operate as an independent brand, and the business of the original Porsche company will be merged into the new holding company. But Porsche later added that a comprehensive merger was "not within the plan".
　　However, the Lower Saxony government is not willing to do so, and they will strive to fight against Porsche for the employment opportunities of 1300 workers in their state and the industrial competitiveness of Lower Saxony. There are rumors in the market that Germany is likely to protect the interests of mass workers and the second largest shareholder, Lower Saxony, through new federal laws, which will be detrimental to the Piech family.
　　At present, the Piech family and their Porsche company are anxiously waiting for the final confirmation from Volkswagen and the government of Lower Saxony in Germany. It can be said that the Piech family seems to be only one step away from their dreams.