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Porsche fails in bid for Prime Standard listing

From Khoahocxaydung| March 29 , 2007

A German court ruled against premium carmaker Porsche AG in a legal dispute over inclusion in Deutsche Boerse AG's Prime Standard stock classification measure, the court said today.

Porsche wants to be admitted to the classification but refuses to publish quarterly reports, a condition for admittance.

The Stuttgart-based company has argued that reporting on its business every three months is an unnecessary bureaucratic effort that would merely drew attention to short-term trends, which it said was detrimental to companies with a long-term strategy.

A listing in the Prime Standard, set up in 2002, is a prerequisite for inclusion in selective indexes such as the mid-cap or blue chip indexes.

Porsche, which is included in the less demanding General Standard, has the right to appeal the ruling.

The company said it will consider which steps to take next.

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