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VW may lift stake in joint venture

Volkswagen AG has won approval to raise its stake in a joint venture with its local partner, the State-owned automaker FAW Group Corp, the German company announced on Thursday. "The Chinese government has approved in principle a possible increase in the stake," a Volkswagen spokeswoman said. She said that VW and FAW had set up internal working groups to evaluate the move and retained external consultants to value the stake in FAW-Volks-wagen.

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