UPDATE 2-VW halts truck unit IPO until market conditions improve [Reuters]
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Source: Reuters
VW halts truck unit IPO until market conditions improve | Reuters 3 Min Read BERLIN (Reuters) - Volkswagen said on Wednesday it would halt preparations for an initial public offering (IPO) of its trucks unit Traton until market conditions improve, stalling what was expected to be Germany’s biggest share offering this year. The automaker had previously said it could list up to 25 percent of Traton in a deal that was expected to raise 5-6 billion euros ($12 billion). Volkswagen said it would still aim for an IPO once market conditions improve. Britain’s looming departure from the European Union and a trade dispute between the United States and China have caused uncertainty on stock markets, making investors hesitant. Sharp fluctuations on the markets make it difficult to determine the price for an IPO. In September Volvo Cars and its Chinese owner Geely also postponed plans to list the Swedish carmaker blaming trade tensions and a downturn in the automotive industry. Proceeds from Europ
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