Volkswagen chief executive Martin Winterkorn, during a tour of a car parts supplier fair in Wolfsburg, called on political leaders to be attentive to developments in the car industry. "In order to avoid further market distortions and the resulting consequences for those involved, Porsche SE intends - depending on the state of the market - to settle hedging transactions in the amount of up to 5 percent of the Volkswagen ordinary shares," Porsche said in a statement. Shares in carmaker Volkswagen nearly halved on Wednesday (October 29) after controlling shareholder Porsche SE took steps to ease a squeeze on shortsellers that more than quadrupled the stock in days. Story Text: Volkswagen demands sympathy from political leaders as German car giant's shares halve after Porsche eases short squeeze.Reuters ID: LVAEES1TGZO7IF8FRYFKNWF50GYP."We demand from political leaders that they become aware what is currently happening in the car industry sector and that they deal very carefully with the requirements which put additional pressure on us." (SOUNDBITE) (German) MARTIN WINTERKORN, VOLKSWAGEN (VW) CHIEF EXECUTIVE SAYING: WINTERKORN TELLING REPORTERS HE IS HERE TODAY FOR A TECHNOLOGY SHOW AND NOT A SHARE INDEX SHOW AND RESPONDING TO REPORTER'S QUESTION "IN THAT RESPECT, I'M NOT SURPRISED ABOUT ANYTHING ANYMORE" VOLKSWAGEN (VW) CHIEF EXECUTIVE MARTIN WINTERKORN WALKING PAST, TOURING FAIR Summary: EU) WOLFSBURG, GERMANY (OCTOBER 29, 2008) (REUTERS)ĮXTERIORS OF CAR PARTS SUPPLIER FAIR "IZB" IN WOLFSBURG WHERE VOLKSWAGEN HAS ITS HEADQUARTERS.Title: GERMANY/FILE: VW shares halve as Porsche eases short squeeze.
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