Volkswagen exceeds Exxon in market value
Posted By RichC on October 28, 2008
According to Bloomberg.com, Volkswagen AG became the world’s biggest company by market value after Porsche SE announced plans to raise its stake in the German carmaker on Tuesday morning on an unusually short selling sitiuation. Volkswagen share price was up 55 percent on this information in Frankfurt trading. The Germany-based Volkswagen has risen more than fivefold this year and is now valued at $370 billion which is now higher than Exxon Mobil Corp which was valued at $343 billion market value at Monday’s market close according to Bloomberg. — LINK
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