In 2012 VW won their epic 4 year tussle with the then independent Dr.-Ing. h.c. F. Porsche AG buying the 51.1% they didn’t already own to subsume the sports car maker. The drama that involved each company trying to buy each other looks to be coming to an end with an IPO for the Porsche brand at an advanced stage, with pricing rumoured to be over €50bn.
Read they’re trying to complete by next month. I did a conservative DCF analysis and got an equity value of €98bn, which is some way above VW’s target. But then again that doesn’t take into account current market conditions, the voting structure, amount of debt VW load etc.