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Volkswagen board hasn't discussed asset sales - Porsche SE Chairman in Spiegel
September 12, 2017 / 1:22 PM / 2 months ago

Volkswagen board hasn't discussed asset sales - Porsche SE Chairman in Spiegel

FRANKFURT (Reuters) - Volkswagen’s (VOWG_p.DE) supervisory board has not discussed the sale of parts of the carmaker’s business so far, board member Wolfgang Porsche told German magazine Der Spiegel, adding he saw no need to do so at the moment.

FILE PHOTO - Wolfgang Porsche, member of the Supervisory board of German car maker Volkswagen, addresses a news conference at the company's headquarters in Wolfburg, Germany October 7, 2015. REUTERS/Axel Schmidt

“I do not see any necessity to divest parts of the group,” the magazine quoted Porsche as saying in an article released on Tuesday.

Volkswagen Chief Executive Matthias Mueller last week was quoted by The Wall Street Journal as saying he was actively working on deals to sell non-core assets that could account for as much as 20 percent of its annual revenues.

“That is not the focus right now,” Wolfgang Porsche said. “And the issue has not been discussed by the supervisory board.”

Porsche is also Chairman of Porsche Automobil Holding SE (PSHG_p.DE), which owns 52.2 percent of voting shares in Volkswagen.

Reporting by Maria Sheahan; Editing by Georgina Prodhan

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