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Volkswagen Still Optimistic for Q4 Porsche IPO

Volkswagen Still Optimistic for Q4 Porsche IPO

"All the reasons we should pursue the project are still in place," says CFO.


MUNICH (Reuters) – Despite market volatility, Volkswagen (VOWG_p.DE) 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.

“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.

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Reporting by Ilona Wissenbach. Writing by Nick Carey. Editing by Louise Heavens and Mark Potter. This article was originally published by Reuters and was republished with permission through our syndicate partners.
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