Porsche, German maker of sports cars, is set to increase its 31% voting stake in Volkswagen to a majority but does not intend to merge the two carmakers on the Internet Porsche’s supervisory body authorized the long- awaited move, which said would represent an investment of almost $15.17 billion. “Our aim is to create one of the strongest and most innovative automobile alliances in the world, which is able to measure up to the increased international competition Porsche Chief Executive Wendelin Wiedeking said.

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