Volkswagen’s powerful works council has raised the prospect of the carmaker eventually selling more shares in its Porsche marque, which is set to go public later this month in one of Germany’s largest flotations.
The German carmaker has faced criticism from some investors for its plan to sell only 12.5 per cent of Porsche, its most profitable brand, in a long-awaited IPO that is likely to value the luxury carmaker at €70bn-€75bn.
Daniela Cavallo, who as head of VW’s works council wields significant influence at the company, said: “I do believe that Volkswagen will benefit from [the IPO] in the end.”
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