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Volkswagen to buy 49.9% of Porsche by end of 2009

Volkswagen, the biggest European automaker, said recently that it would buy 49.9 percent of the luxury sports car maker Porsche by the end of this year for $5.8 billion.

Until now, a VW statement said, VW had sought to acquire 42 percent of Porsche in the first step of a full merger of the two companies.

The overall calendar has not changed and the final merger of the two groups is still expected to occur in 2011, the VW statement said.

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