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Thu 10 Oct 2008Hedge fund managers seriously injured in VW
THE PORSCHE takeover of Volkswagen ensured another wild ride on the Frankfurt stock exchange yesterday as VW shares plunged 50 per cent after quad-rupling in value in recent days.
The new owners-to-be of VW sparked a dramatic price spike after embarking on a shopping spree to snap up the last remaining freely-traded shares in Europe's largest car-maker. When they announced on Sunday that they controlled 74 per cent of the company in stocks and options, all hell broke loose in Frankfurt.
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