From a clip this morning

September 29, 2005, 5:55 AM

FRANKFURT, Germany (AP) -- Luxury automaker Porsche AG has increased its
stake in Volkswagen AG to 10.3 percent, a spokesman said Thursday, as it
moves to acquire a 20 percent stake in Europe's largest car maker.
Immo Dehnert, a spokesman for the Stuttgart-based Porsche, said the shares
his company had purchased thus far had been from institutional investors but
added that the company was looking at other sources to increase its stake in
Wolfsburg-based VW.
"There's no decision on where we will buy it. It could be on the market,
from investors, from the treasury shares of VW," he said.
Talks with Volkswagen about buying some of its own shares were expected to
start this week or next.
Porsche, which had held less than 5 percent of VW, is raising its stake to
secure ties between the companies and ward off any future hostile takeover
of Volkswagen.

////just that 5 percent change has some of the analysts re evaluating the
chances of a hostile takeover of VW.  With porsche at 10 percent and heading
for the 20 percent the chances of someone trying to end the partnership go
down massively.  Chances of trying a takeover of porsche...almost impossible
with out an internal family feud. Lost count but I found 10 or 11 family
members with all of the voting stock. Ferdinand Piech, vw board member that
may be on the way out, is also a porsche family nephew, with a very minor
stake in porsche.///

Going to the B&B gathering.

jimt