Porsche vies for majority VW stake

In the long-running saga of Porsche's effort to take control of Europe's largest carmaker, the sports car maker now appears to be maneuvering to more than double its stake of 31 percent in Volkswagen AG, according to the latest report.

The German magazine Focus said in its latest issue that Porsche was considering increasing its holding in Volkswagen, a carmaker 10 times its size by revenues, to 75 percent. Porsche issued a denial Monday, saying that it would be difficult to do that because the state of Lower Saxony controls more than 20 percent of VW's shares.

But Porsche didn't deny wanting a stake of 75 percent, and analysts say a holding of that size would give it a dominant majority and might allow it to override a minority shareholder.