PORSCHE TO GO PUBLIC, VALUED AT £71 BILLION

The Volkswagen Group is poised to list Porsche AG on the stock market in a bid to fund the sports car maker’s electrification. It could be one of Germany’s biggest public offerings in years, with Bloomberg Intelligence predicting a valuation of £71 billion. Porsche Automobil Holding SE would retain the right to veto strategic decisions and “industrial co-operation” between Porsche AG and the VW Group would continue.