BERLIN/FRANKFURT, April 3 Former Volkswagen
Chairman Ferdinand Piech has agreed to sell a major
part of his stake in the firm that controls Europe's biggest
carmaker, paring his ties with Volkswagen after more than two
decades of undisputed rule.
Volkswagen's (VW) ruling Porsche and Piech families have
agreed to buy part of the 14.7 percent stake Piech holds in
Porsche Automobil Holding SE, which in turn owns
52.2 percent of voting shares in VW, exercising their right of
first refusal on Porsche SE shares, according to a Porsche SE
statement published on Monday.
It did not say exactly how much of the stake the families
(Reporting by Andreas Cremer and Maria Sheahan; Editing by