Germany's luxury carmaker Porsche has won antitrust approval to take control of Europe's biggest car maker Volkswagen AG.
The European Commission said in a statement that the deal would not stifle competition. Porsche holds more than 30 percent of Volkswagen and is its largest shareholder. It is currently trying to build up its stake. The Commission's decision adds pressure on the German state of Lower Saxony to relinquish its veto rights over VW decisions.
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