Piech in talks to sell stake in Porsche SE

New Straits Times - - Business -

BERLIN: For­mer Volk­swa­gen (VW) chair­man Fer­di­nand Piech is in talks to sell his stake in Porsche SE in a deal that would shake up the own­er­ship struc­ture of the firm that con­trols VW.

Porsche SE is the group through which the bil­lion­aire Porsche and Piech fam­i­lies con­trol 52.2 per cent of the vot­ing shares in VW, which is still deal­ing with the ef­fects of its diesel emis­sions scan­dal.

The fam­i­lies were in ne­go­ti­a­tions to buy a sub­stan­tial part of Fer­di­nand Piech’s 14.7 per cent stake in Porsche SE, said Porsche SE in a state­ment on Fri­day, con­firm­ing a re­port by weekly mag­a­zine Der Spiegel. Reuters

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