(MENAFN- Trend News Agency)
Despite market volatility, Volkswagen is still working toward an
initial public offering (IPO) for Porsche in the fourth quarter
that would give the luxury brand more freedom, the German
carmaker's finance chief said on Wednesday, Trend reports with reference
to Reuters .
'We are optimistic we can pursue this project in the fourth
quarter,' Chief Financial Officer Arno Antlitz said at the Reuters
Automotive Europe conference in Munich. 'Porsche would gain
entrepreneurial freedom, we can expect a lot from them.'
He added there was still plenty of investor appetite and capital
available for an IPO.
'All the reasons we should pursue that project are still in
place,' he said.
Like other major carmakers, world No. 2 Volkswagen is in the
middle of an expensive transition to electric vehicles.
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