STUTTGART, Germany (Reuters) - A German court on Friday acquitted Wendelin Wiedeking, a former chief executive of Porsche (DE:PSHG_p), of alleged market manipulation in the wake of one of the auto industry's most controversial takeover battles.
In 2008, during the height of the financial crisis, Stuttgart-based sportscarmaker Porsche launched a stealth takeover attempt of much larger Volkswagen (DE:VOWG_p), using derivatives to help them sidestep share ownership disclosure rules.