PORSCHE SE, maker of the 911 sports car, said yesterday it aims to raise its stake in Volkswagen AG to 75 percent next year and reach a control agreement over Europe's largest auto maker.

Porsche currently holds 42.6 percent of Volkswagen's common shares and has cash-settled options for another 31.5 percent, the Stuttgart, Germany-based car maker said yesterday in an e-mailed statement.

Porsche reiterated plans to achieve a holding that exceeds 50 percent in November or December.

The purchase is opposed by Volkswagen worker groups and by some German politicians. Porsche said on Friday the Porsche and Piech families, as well as Uwe Hueck, head of the company's works council, agree on all corporate plans, including terms of the Volkswagen takeover and labor representation, Bloomberg News said.

The company said yesterday it disclosed its holdings "to give short-sellers the opportunity to close their positions unhurriedly and without bigger risk."

Short-sellers borrow stock on expectations they can repurchase the shares later at a lower price.

Volkswagen shares fell 23 percent, the most in almost two decades, last Monday as short sellers bet the price will decline once Porsche gains control of the company.

When exercising the options the underlying Volkswagen shares will be bought at market price, Porsche said. Porsche will receive the difference between the market price and the option strike price.

About 15 percent of Wolfsburg, Germany-based Volkswagen's common shares as of last month were on loan, mostly for short sales, according to London-based research firm Data Explorers. That was the highest proportion of any company on Germany's 30-member benchmark DAX Index.