Did anyone see this? Porsche, a company worth around about $7bn has managed to acquire options of up to 75% ownership of Volkswagen, a company worth up to $115bn, by playing the hedge funds at their own game. Of course, now the hedge funds are complaining about it which is a real shame for them. I particularly like the comment made by the former Deputy Chancellor of Germany, Franz Munterfering, re certain people in the financial services industry:
"Some financial investors spare no thought for the people whose jobs they destroy. They remain anonymous, have no face, fall like a plague of locusts over our companies, devour everything, then fly on to the next one."
Masters of the universe, if you will. Or not.
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