From the commentary:
"Porsche was secretly raising its stake through derivatives and options to a smidgen under 75 per cent... More than 30 per cent of the VW holding is in the form of options, or commitments to buy the shares at a later date for a particular price. As a result, Porsche is the only major holder able to satisfy the hedgies' need to close their positions. Porsche stands to make more out of a few weeks of speculating on markets than it could in years of selling cars."Evidentially, it all seems above board and perfectly legal, although the German regulator is investigating to see if there was any evidence of insider trading. And who wants to fight on the side of a hedge fund right now? They're pond scum. If it's all legit, the move will give a nice little profit to all those German pension funds who started buying into the car company earlier in the year.
The hedgies aren't safe, and Boards of Directors all around the world are realising that they're employees just like everyone below them. Here in NZ, the recent Contact Energy AGM was our own version of out-playing the players. Welcome to a new form of economic warfare. Anarcho-capitalist shareholders.