News Summary: EU holds up state's Volkswagen say

EU's top court upholds Volkswagen law granting state entity a blocking minority

Associated Press

STATES RIGHTS: The European Union's top court has affirmed the right of a state in Northwest Germany to have a say in operations at Volkswagen AG, Europe's largest carmaker.

SAXON POWER: The German state of Lower Saxony holds a 20 percent stake in the automaker, which the court said gives it the right to block corporate decisions. That's a lower threshold than the 25 percent blocking minority for all other German public companies.

GREAT JOY IN SAXONY: Lower Saxony state governor Stephan Weil expressed "great joy" about the ruling, calling it a good day for the state and the company's employees.

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