Volkswagen mulls listing of Porsche AG unit – source

© Reuters. A logo of Porsche is seen outside a Porsche car dealer, amid the coronavirus disease (COVID-19) outbreak in Brussels

HAMBURG (Reuters) – Volkswagen (DE:) is mulling a listing of its luxury car division Porsche AG to rake in cash needed for the group’s shift towards software and electric vehicles, a person familiar with the matter said.

“Those considerations exist,” the source said, but cautioned the idea was still far from being discussed in committees and that any listing was not to be expected in 2021.

Manager Magazin had first reported the news, which boosted Volkswagen shares by as much as 5.7%. The magazine said Volkswagen could list as much as 25% of Porsche AG, a stake that could be valued at 20-25 billion euros ($24-$30 billion).

Volkswagen declined to comment. Top shareholder Porsche Automobil Holding SE, which holds 31.4% of Volkswagen and 53.1% of the group’s voting rights, also declined to comment.

($1 = 0.8282 euros)

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