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Company News

Volkswagen plans to take stake in Sixt: Manager Magazin

FILE PHOTO: A logo of German carmaker Volkswagen is seen on a car parked on a street in Paris, France, July 9, 2020. REUTERS/Christian Hartmann

BERLIN (Reuters) - German car maker Volkswagen plans to take a stake in Sixt SIXG.DE, a rental firm that has branched out into mobility services such as car sharing and ride hailing, Manager Magazine reported on Wednesday.

VW could take a stake of up to 15% in Sixt in the form of ordinary and preferred shares via a capital increase, the business periodical said in a report that cited unnamed sources.

VW declined to comment on the report, describing it as speculation.

Reporting by Douglas Busvine and Jan C. Schwartz; Editing by Jan Harvey

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