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Former Volkswagen chairman mulls sale

Former Volkswagen Group chairman Ferdinand Piech, owner of 14.7 percent of the voting shares in Porsche SE, is said to be discussing sale of his stake. The Porsche SE holding company controls 52.2 percent of Volkswagen Group's voting rights. This could end his two decades of control over the German giant that saw it become the largest car manufacturer in the world. The stake, worth about 1 billion euros ($1.1 billion), must first be offered to the other members of the Piech and Porsche families who have the right of first refusal.

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