Volkswagen commented today that they were in the final stages of finalising the acquisition of Porsche.

The deal is expected to be finalised by August 1st and will see Porsche integrated into the Volkswagen brand.

The deal will involve the payment of £3.5 billion for a 50.1 percent stake of Porsche and one Volkswagen share to holding company Porsche SE which already holds stakes in Volkswagen and shares executives with the company.