German automaker Volkswagen said on Tuesday it was in advanced talks with holding company Porsche Automobil Holding SE about the possible launch of an initial public offering (IPO) of shares in sports car maker Porsche AG.
In a statement, Volkswagen said it had negotiated a preliminary agreement with shareholder Porsche SE, which could serve as the basis for the eventual listing of Porsche AG. The deal needs to be approved by the companies’ boards of directors and supervisors, and a final decision has not yet been taken, the automaker said.
The news boosted shares in Volkswagen and Porsche SE. At around 6:10 am (GMT), on the Frankfurt Stock Exchange, company shares jumped more than 8%.
Volkswagen post reveals it discusses possible Porsche IPO; stocks jump in Frankfurt appeared first on ISTOÉ CASH.
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